In the last 24 hours, the price of Bitcoin has fallen by about 1.5%, currently trading at around $113,694. Compared to last week's peak, it has retraced by about 9%. This price fluctuation is mainly due to market uncertainty regarding the upcoming release of the Fed meeting minutes.

Investors are closely watching this minutes, hoping to gain clear signals about the future direction of interest rate policy. It is worth noting that the fluctuation of Bitcoin has shown a certain correlation with traditional financial markets, such as the Nasdaq index also falling by 1.5% during the same period.

Market expectations for a possible interest rate cut in September this year are also changing. Previously, the market widely believed that the likelihood of a rate cut was as high as 94%, but now this expectation has been adjusted down to 85%. This adjustment in expectations has undoubtedly impacted the cryptocurrency market, including Bitcoin.

In addition, the potential impact of stablecoins and their role in the demand for U.S. Treasury bonds are also factors that investors need to consider. These factors may continue to influence the price trend of Bitcoin in the coming period.

Despite the short-term fluctuations in Bitcoin prices, the long-term development prospects of the cryptocurrency market remain worthy of attention. Investors should closely monitor changes in macroeconomic policies, while also paying attention to the development dynamics of the cryptocurrency industry itself, in order to make more informed investment decisions.