 hit a new high on the morning of Jul. 10 as the U.S. Federal Reserve(Fed) predicted a rate cut in July. \"Several participants have noted that they may consider lowering the policy rate target range at their next meeting if the data is consistent with their agreement,\" the Fed said in a release of minutes from the Federal Open Market Committee(FOMC) meeting on Wednesday. \"Several participants noted that the current benchmark interest rate target may not be significantly higher than the neutral level,\" it said. As Bitcoin surged on e', 'https://img.blockstreet.co.kr/photo/2024/02/16/20240216000004_0640.jpg', 'https%3A%2F%2Fwww.blockstreet.co.kr%2Fnews%2Fview%3Fud%3D2025071016233194004'));){kind=link}
U.S. Fed Represnets Possibility of Rate Cut in FOMC Minutes
BTC Hits Morning High On Big Short Clearance In Futures Market
BTC Holds $110,000...Altcoin Records Over 5% Upside
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"Several participants have noted that they may consider lowering the policy rate target range at their next meeting if the data is consistent with their agreement," the Fed said in a release of minutes from the Federal Open Market Committee(FOMC) meeting on Wednesday.
"Several participants noted that the current benchmark interest rate target may not be significantly higher than the neutral level," it said.
As Bitcoin surged on expectations that the Fed could cut interest rates, the short-term short-term volume of Bitcoin, which had been betting on the futures market, was liquidated, and Bitcoin instantly broke the high price. Bitcoin touched 112,055 dollars at 4:55 a.m.
Bitcoin, which had reached a new high price, continued to rise, maintaining the $110,000 level. With Bitcoin's rise, altcoins also continued to rise, recording an average increase of more than 5%.
◇Bitcoin = Bitcoin price is $111,415 at 4:30 p.m. on Jul. 10, 2025. The Bitcoin share(dominance) was 64.62%.
The long(up) and short(down) betting ratios in the Bitcoin futures market stood at 30.93% and 69.07%, according to the on-chain analytics platform Sigbtc.
"Bitcoin is recognized as a hedge against the decline in the value of its nominal currency," Catalin Tissuehauser, head of research at Signum Bank, said in an interview with CoinTelegraph. "Even on the day when the Standard & Poor's 500 index falls, there is a decoupling phenomenon in which Bitcoin is showing its own strength."
◇Upward Coin = The cryptocurrency that recorded the largest increase from the previous trading day at 4:30 p.m. on Jul. 10 was Bonk(BONK), up about 6% on the day alone.
Bonk is a Solana-based "meme coin" and is the main driver of the soaring animal meme coins that began last year.
Bonk soared with Solana's price hikes, which began in November 2023, and posted a gain of about 410% for about two months last winter. It now boasts high recognition and trading volume among meme coins.
◇Fear Greed Index = Digital asset fear-greed index provided by Alternative has entered the 'greed' phase with 71 points. The greed phase is a phase where price volatility and trading volume increase, and the price increases. The government should be cautious about selling products as it is highly likely to form a short-term high.
The cryptocurrency relative strength index(RSI) provided by Sigbtc was 66.8, which was in a 'neutral' state. RSI sets the relative strength between the upward and downward pressure of a particular asset price and is an indicator of a measure of over-purchasing and over-selling of a particular asset.
권승원 기자 ksw@blockstreet.co.kr