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BiyaPay Analyst: Fed Rate Cut Triggers Bitcoin Pullback, Escalates Market Fear Sentiment
BlockBeats News, October 30th, according to Alternative data, today's cryptocurrency Fear and Greed Index is 34, indicating a "Fear" state of the market. The Federal Reserve cut interest rates by 25 basis points on October 30th, entering a new round of easing. However, the market reaction was unexpected, as Bitcoin fell instead of rising, mainly due to market doubts about Powell's "cautious easing" stance and concerns about global economic growth.
The market had already priced in the rate cut expectations, leading to a classic "buy the rumor, sell the news" scenario. Furthermore, Bitcoin's leverage scale is close to $40 billion, and any small movement could be magnified, causing significant price fluctuations.
BiyaPay analysts pointed out that although there is short-term downward pressure in the market, in the long run, ETF funds continue to flow in and institutional demand for crypto assets remains strong. BiyaPay supports USDT trading for US stocks, Hong Kong stocks, futures, and provides zero fee trading for digital currency spot contracts. As market sentiment gradually stabilizes, investors can seize future opportunities for an uptrend through the BiyaPay platform and enjoy a convenient digital asset management experience.
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