Track real-time hot topics in the currency circle, seize the best trading opportunities, today is Friday, November 8, 2024, I am Wang Yibo! Good morning, coin friends ☀ hardcore fan check-in 👍 like and get rich 🍗🍗🌹🌹

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Overnight, the three major U.S. stock indexes closed with mixed performance, with the Nasdaq rising by 1.51%, the S&P 500 rising by 0.74%, and the Dow Jones remaining flat. The Nasdaq and S&P 500 indexes continued to set new historical closing highs. Large-cap tech stocks all saw gains, with Intel rising by over 4%, Meta rising by over 3%, Apple, TSL, Google, and Nvidia rising by over 2%, and Amazon and Microsoft rising by over 1%. The Federal Reserve concluded its two-day monetary policy meeting and announced a 25 basis point cut in the federal funds Intrerest Rate target range to 4.5% to 4.75%. This marks the Fed's second rate cut of the year, in line with market expectations. Fed Chair Powell previously stated that the Fed has made significant progress in achieving its goals of sustained inflation decline while maintaining employment and economic stability. If economic data meets expectations, there may be two more rate cuts in November and December, each by 25 basis points. However, President Trump's election may slow the pace of rate cuts by the Fed. Trump's support for increasing tariffs on imported goods and tax cuts to stimulate consumer demand could lead to a rise in inflation. Currently, the market has reduced expectations for a December rate cut by the Fed, with several Wall Street institutions predicting that the Fed may announce a pause in rate cuts after the next monetary policy meeting!
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BTC went sideways around $75,000 for a day, and now it is launching another night-time rally, with trading volume showing signs of expansion. BTC has broken through the historical high and reached $76,484. There is not much to say about the technical structure, as it remains in an upward trend both in terms of indicators and various levels. The trend is still a time correction, which will not provide much room for retracement, and the low point below will not easily be broken. Therefore, bearish traders can give up. The recent upward trend remains strong. Short-term range volatility is also normal. Currently, the overall trend is still upward. The higher the subsequent market goes, the weaker the adjustment momentum will be, and the upward amplitude will be larger. Therefore, I still recommend everyone to buy on the dips.
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ETH rose in the early morning due to the impact of the news, reaching the 2914 level before falling back. In the evening, we also clearly analyzed the technical structure for everyone. In this market, it is inevitable to see a stretch accompanying the rise. The midnight market also moved in line with our expectations, as there was no strong resistance at the top of the previous market, meaning that BTC still has further room to rise. Although the short-term adjustment may appear to be deceptive, its actual impact is limited, and a strong market often quickly recovers after a brief consolidation. It is particularly worth mentioning that the interest rate meeting of the Federal Reserve held at three o'clock in the morning is expected to have a relatively small impact on the future market. Therefore, during the Bai Pan period, the market is still expected to maintain a slight retracement followed by a more bullish trend. #万圣节倒计时：抓紧最后机会，享$60,000惊爆福利 #比特币突破新高$75K，下一站$80K?