Market Today

• BTC returned to above $62,000 after the Fed cut interest rates by 50 basis points today, leading the overall cryptocurrency market to rebound sharply;
• ETH returned to $2,400, but the increase was still small compared to other public chain projects, and the weakness of ETH ETF was directly reflected in the price of ETH;
• Altcoins rebounded sharply, and public chain projects such as SUI and FTM rose sharply;
• In terms of data indicators, today's AHR999 index is 0.68, and the current BTC price is still suitable for long-term fixed investment; the fear and greed index is 49, and the market has improved significantly after the interest rate meeting.

Market Hotspots

1. Public chain sector: SUI, FTM, SEI and others rose sharply, and the leading ETH and SOL in the previous round of market performance were relatively weak. SUI rose 15% in 24 hours, once approaching the $1.4 mark. Sui Ecosystem meme project Blub has surged, with a current market value of $30 million, and has risen more than 100 times this month.
2. Meme sector: NEIROCTO, NEIROETH, POPCAT and others have surged, and NEIROCTO continues to rise to a record high. NEIROCTO has risen by more than 200% in the past few days, approaching the $0.001 mark. NEIROETH has rebounded from oversold levels after a sharp drop in the past few days, rising 40% in 24 hours and currently back above $0.1. POPCAT is the leading cat meme project on the Solana chain, and is currently only one step away from its previous historical high. POPCAT is likely to become the first cat meme coin to have a market value of over $1 billion.

Macro News

In the early morning, the Federal Reserve announced a 50 basis point interest rate cut, and the three major U.S. stock indexes collectively closed slightly lower. The market expects two more 25 basis point interest rate cuts this year.