Market up and down.

Hey there!

So, I just checked out the latest "Verified Gains" video, and it's pretty interesting what's happening in the crypto world right now. It feels like a bit of a head-scratcher, honestly.

Last Tuesday, we got some seemingly good news from the Fed – they cut the federal interest rate by 25 basis points, with hints of two more cuts later this year (maybe October and December). Now, normally, lower interest rates mean more liquidity flowing into riskier assets like crypto, which should be bullish for Bitcoin. You'd expect prices to climb, right?

But here's the thing: Bitcoin actually dipped a bit, getting a "soft rejection" around $117,000. This might seem counterintuitive, but apparently, a shakeout after an interest rate cut is quite common. It's often just retail traders getting spooked and selling off, while institutional investors see it as a prime buying opportunity.

When it comes to other coins, Ethereum (ETH) is following a similar pattern. If Bitcoin drops to $109,000 or $110,000, Ethereum could also dip further, as altcoins tend to see bigger movements than Bitcoin. Solana (SOL) saw a rejection around $246-$247 and is heading back towards $205, but it's still in a better position than its previous low around $180.

And for meme coins? Oh boy, they're getting absolutely "demolished." When the big players like Bitcoin and major Layer 1s are affected, meme coins get hit even harder. The video points out that coins like Troll are seeing huge retracements with no clear support lines, making them incredibly risky right now. The advice is to hold off on further investments in meme coins until the general market stabilizes.

So, the big takeaway is that despite the current dip, the Federal Reserve's rate cuts are ultimately bullish for Bitcoin and the crypto market overall. This current dip is seen as a common shakeout, not the end of the bull cycle. I guess it's a waiting game to see those new all-time highs!