BiyaPay Analyst: Fed Hawkish Comments Persist, Bitcoin May Face Another Round of Decline

September 23rd. The internal rift within the Federal Reserve regarding interest rate cuts grew more intense. On the same day, multiple officials delivered speeches, which had a significant impact on market expectations. Cleveland Fed President Hamack stated that the inflation level still remains significantly above the 2% target, and the Fed must be "very cautious" when withdrawing from restrictive policies. She cautioned that premature rate cuts could lead to the economy overheating once again. St. Louis Fed President Musallam and Atlanta Fed President Bostick also expressed similar viewpoints, all believing that there is limited space for further rate cuts. In contrast, the newly appointed Fed Governor Milan took a more dovish stance. He called for rapid rate cuts in the coming months to relieve employment pressure. Against the backdrop of officials collectively adopting a hawkish tone, market confidence is being tested. Bitcoin once again witnessed a sharp decline, dropping from 115,400 to around 111,400 and currently hovering around 112,000. BiyaPay analysts pointed out that short-term volatility is expected to increase. If macro expectations continue to be under pressure, the subsequent decline of Bitcoin is expected to further expand. In terms of strategy, investors need to maintain a cautious attitude. The key resistance levels to pay attention to are in the range of 114,000–114,500, while the key support is around 107,000. Although the prices of some alternative cryptocurrencies have risen recently, trading volume has continued to decline, indicating a weakening market activity. Investors should not blindly chase highs and should focus on risk management and return balance. Meanwhile, BiyaPay has supported zero-fee trading of spot contracts and allows direct investment in US and Hong Kong stocks using USDT, providing investors with more convenience and flexibility in their global market strategies.