Gate Research Institute: BTC and ETH fluctuate and maintain support levels, and expectations of a Fed rate cut are rising

In the past 24 hours, Bitcoin and Ethereum rose by 1.32% and 1.04%, respectively, and the prices stabilized around $55,100 and $2,312, showing obvious short-term support levels. At the same time, the U.S. unemployment rate in August was in line with expectations, and the non-farm payrolls data was slightly lower than expected, which increased the probability of the Fed's interest rate cut in September to 70%. In terms of blockchain industry dynamics, Ether.fi's revenue in August reached $2.19 million, of which 5% will be used to repurchase ETHFI and LP mining; OORT updated the token economic model and extended the team token unlocking period to six years to enhance decentralization and transparency. Fractal Bitcoin also went online on the mainnet and announced the token economic model. 80% of the tokens will be allocated to the community. The overall market sentiment tends to be cautious, and the three major U.S. stock indices all fell, and the fear and greed index fell to 29, indicating that the market is in a state of panic. In addition, popular tokens such as BTT, CVC and AVAX have increased by 17.9%, 15.0% and 5.6% respectively in the past 24 hours, showing a certain degree of activity. Overall, the market is fluctuating and adjusting at the support level, and investors need to pay close attention to future policy changes and market trends.