Analyst: As Long as BTC Stays Above $81,000, It Remains Constructive in the Short Term

Jinse reports that after Federal Reserve Chairman Powell dismissed hopes for an early rate cut, the cryptocurrency market dipped briefly but then rebounded. BTSE COO Jeff Mei stated that the Federal Reserve is unlikely to cut rates early in the short term; thus, Bitcoin prices are expected to stay in the $80,000 to $90,000 range. SignalPlus Head of Analysis Augustine Fan pointed out that cryptocurrency trading is volatile most of the time, but as long as BTC remains above $81,000, the technical aspects in the short term remain more constructive. The market is focused on the details of Trump's first trade agreement and the corporate earnings season starting next week.