Gate Research Institute: BTC and ETH shock maintain support, Federal Reserve interest rate cuts are expected to heat up
On September 10, the Gate Research Institute released a view saying that in the past 24 hours, Bitcoin and Ethereum rose by 1.32% and 1.04% respectively, with prices stabilizing around $55,100 and $2,312, indicating a clear short-term support. At the same time, the US unemployment rate in August was in line with expectations, and the non-farm payrolls data was slightly lower than expected, which raised the probability of the Federal Reserve cutting interest rates in September to 70%.
In terms of blockchain industry dynamics, Ether.fi revenue reached $2.19 million in August, of which 5% will be used to buy back ETHFI and LP mining; OORT updates the token economy model and extends the team token unlock period to six years to enhance decentralization and transparency. Fractal Bitcoin is also launched on the mainnet, announcing the token economy model, and 80% of the tokens will be distributed to the community.
The overall market sentiment is more cautious. All three major US stock indexes fell, and the fear and greed index fell to 29, indicating that the market is in a state of panic. In addition, popular tokens such as BTT, CVC and AVAX rose by 17.9%, 15.0% and 5.6% respectively in the past 24 hours, showing a certain active level. Overall, the market is volatile and adjusted at the support level, and investors need to pay close attention to future policy changes and market trends.