Market Update
Treasury Secretary Bessent's earlier remarks about a $2,000 dividend were widely interpreted by markets as a fiscal stimulus signal. However, his latest clarification reveals it is essentially a tax cut policy, not direct liquidity injection to households or markets, failing to meet bulls' expectations of immediate monetary easing.
Compounding the disappointment, Fed hawk Loretta Mester (Logan) explicitly indicated that a December rate cut is highly unlikely, further crushing hopes for policy loosening. Under this double blow, Bitcoin and Ethereum saw significant price declines, with the fear index spiking and market sentiment turning sharply pessimistic.
At present, only AI-themed tokens maintain relative strength, serving as the last bastion of bullish sentiment. However, the upcoming Nvidia earnings report next week poses a major risk: if results disappoint, it could trigger a correction in the AI sector, dragging down the broader crypto market.