The Fed's rate hike no longer affects BTC, and BTC seems less likely to have major Fluctuation in the short term, with most BTC whales neither selling nor buying more assets.

BTC seems to be less likely to have a significant fluctuation in the short term

At the opening of the Asian market, the trading price of Bitcoin (BTC) was slightly higher than $29,240, and it has fallen by 0.3% in the past 24 hours.

Since mid-June, the price of BTC has been fluctuating between $29,000 and $31,800, unaffected by concerns about interest rate hikes, inflation, and other macroeconomic worries. Brent Xu, CEO and co-founder of the Web3 bond market platform Umee, said the current situation may continue.

"After the recent rate hike by the Federal Reserve, BTC has hardly changed, indicating that the rate hike has been largely absorbed during this period. This undoubtedly demonstrates the resilience of BTC and, in fact, the resilience of the broader digital asset market as well. However, I do not expect any significant breakthroughs in the short term."

Ethereum Fluctuation is also not significant, with a recent trading price of $1862, down 0.4% in the past 24 hours. Other major Crypto Assets are mostly in the decline zone.

Xu expects that BTC will not return to the "Bull Market state" before the BTCHalving in 2024. "That is also when the Fed may start cutting interest rates," he wrote. "I want to remind everyone that if there is some kind of disruption, such as credit tightening or a worsening banking crisis, the reduction may come faster."

Most BTC whales neither sell nor buy.