Treasury Secretary Bessent clarified that the proposed $2,000 dividend is actually a tax cut, not direct liquidity injection. Dallas Fed President Logan dashed hopes for a December rate cut with hawkish remarks. The dual blow shattered market confidence, sending Bitcoin and Ethereum sharply lower. The AI narrative remains the last pillar for bulls, but NVIDIA earnings could fuel further volatility.
Market News
Treasury Secretary Bessent clarified that the so-called "$2,000 dividend" plan is essentially a tax reduction measure, not direct liquidity injection into households. This shattered earlier market expectations of massive fiscal stimulus. Meanwhile, Dallas Fed President Lorie Logan delivered hawkish remarks, explicitly stating that a December rate cut is highly unlikely, further dampening easing expectations.
Market Outlook
Bitcoin and Ethereum prices plunged sharply amid heightened market panic. With rate cut hopes fading and fiscal stimulus falling short, bullish traders are left without clear catalysts. The AI narrative is currently viewed as the last pillar supporting sentiment, but the upcoming NVIDIA earnings report could introduce additional volatility.
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