$BTC
Bitcoin's Rally Loses Steam!
Bitcoin's price has taken a hit, dropping 1.5% after China's economic stimulus package failed to impress investors. The lack of urgency and specifics in the National Development and Reform Commission's briefing left market sentiment underwhelmed.
Market AnalysisThe broader market has been affected, with major tokens like SOL, ETH, XRP, and BNB falling up to 4%. China's Shanghai Composite index initially jumped 4% but later fell, while Hong Kong's Hang Seng index dropped nearly 7%. This downturn has investors cautious, especially with concerns surrounding Middle East conflicts and China's economic growth.
Federal Reserve Meeting: The Next Catalyst?
All eyes are now on the upcoming Federal Reserve meeting, which may provide clues about Bitcoin's next move. The release of FOMC minutes and key economic figures from August will be closely watched.
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