BlockBeats News, November 3rd, U.S. Treasury Secretary Yellen warned that parts of the economy have already entered a recession. If the Federal Reserve does not hasten its interest rate cuts, more industries may be impacted. This rare statement marks an escalation of White House’s public pressure on monetary policy and reveals a continued widening rift within the decision-making level. Three Fed officials subsequently emphasized that “a rate cut in December is far from certain,” causing the market to once again fall into uncertainty about the policy outlook.
On a macro level, although the U.S. real economy still shows resilience, pressures on real estate and small business credit continue to rise. The government shutdown has further led to data delays, making decision-making criteria increasingly blurry. Investors are beginning to reprice risk assets and the U.S. dollar yield curve. Short-term interest rate volatility has intensified, and demand for safe-haven currencies remains high.
Bitunix Analyst View: The daily support for BTC is in the short-term range of $107,300–$108,000. A break below could trigger a liquidation zone at $104,900 below. On the upside, pressure is concentrated in the range of $113,800–$116,800, corresponding to a major liquidity accumulation zone with a liquidity correlation value as high as 0.9. Although the tapering period is coming to an end, signaling a policy turning point, caution is needed regarding overvaluation and the risk of debt-dependent enterprises. With Fed officials reiterating that “the pace of rate cuts depends on the data,” the crypto market may seek a new balance point amid volatility.
