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10x Research: Market Turns Cautious on Fed's Future Rate Cut Expectation, Risk Asset Demand Suppressed
BlockBeats News, November 2nd, 10x Research published an article stating, "Bitcoin (BTC is currently below the 7-day moving average: bearish, below the 30-day moving average: bearish, with a +1.8% price increase over the past week) fell after a speech by a Federal Reserve official, as the market became more cautious about future rate cuts, suppressing demand for risk assets.
MicroStrategy reported its quarterly earnings, benefiting from its Bitcoin holdings, further strengthening institutional demand. The advancement of U.S. crypto legislation and ETF applications continues to support long-term bullish sentiment for Bitcoin.
In the macro environment and the power play of institutional funds, BTC fluctuates around $110,000, with price movement clearly influenced by policy and capital flows."
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The U.S. government will "reopen," with multiple departments requiring employees to return to work tomorrow.
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