US Federal Reserve Minutes: "Considering Lowering Interest Rate Target Range" BTC Surges... Touching $112,055 Around 5 AM BTC Futures Market Liquidation Amount Reaches Approximately 275 Billion Won
Source=Trading View
As the US Federal Reserve (Fed) hinted at the possibility of a July interest rate cut through the release of the Federal Open Market Committee (FOMC) meeting minutes on the 9th, Bitcoin surged on the 10th, setting a new record high.
On the 10th, Bitcoin sharply rose, touching $112,055 at 4:55 AM following the Fed's announcement supporting an interest rate cut.
The new Bitcoin high is attributed to large-scale short position liquidations in the futures market. According to Cointelegraph, the liquidated short positions on the morning of the 10th amounted to approximately $200 million (about 275 billion won).
With Bitcoin's price increase, the total cryptocurrency market capitalization reached approximately $3.476 trillion (about 4,779 trillion won), the highest since June 2025.
Meanwhile, the Fed announced its intention to lower interest rates next month through the FOMC meeting minutes. The minutes noted that "some participants mentioned they could consider lowering the policy rate target range at the next meeting if the data aligns with their consensus."
Additionally, "several participants suggested that the current benchmark interest rate target may not be significantly higher than the neutral level." This is interpreted as some showing a forward-looking stance on interest rate cuts.
Reporter Seung-won Kwon ksw@blockstreet.co.kr
Disclaimer: The content above is only the author's opinion which does not represent any position of Followin, and is not intended as, and shall not be understood or construed as, investment advice from Followin.
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