News

Jinse Finance reported that European Central Bank President Christine Lagarde stated that the ECB has achieved price stability and will take all necessary measures to control inflation in the eurozone. In an interview on Monday, she said that inflation has reached the 2% target. These remarks were made ahead of an upcoming inflation report, which is expected to confirm the ECB's assessment that price pressures in the eurozone are under control. Economists predict that the inflation reading will be 2%, consistent with the central bank's target. The market generally expects policymakers to keep interest rates steady at another meeting in less than two weeks, as many have indicated they are satisfied with the current 2% rate level. Investors are no longer certain whether there will be further rate cuts this year, although economists still believe there will be a final rate cut in December. (Golden Ten Data)

ChainCatcher news, Matrixport released today’s chart stating, “Bitcoin has fallen back to the breakout range of $106,000 - $108,000. In the latest issue of ‘MatrixonTarget’ report, we have adopted a more conservative stance, pointing out that this round of correction may still continue. Seasonal weakness has been evident since the end of July, and stage pressure is accumulating. This week, US employment data will be released, and Bitcoin is at a critical technical juncture. If the price drops further, it may surprise most traders, but this risk cannot be ignored. Historical experience shows that rate cuts are often seen as positive for the crypto market, but they are often accompanied by volatility.”