Hey, guys.
The Fed lowered the interest rate as I expected below the forecast by 50 basis points to 5%.
The market is digesting this information, as I said earlier a double rate cut will be ambiguous and could backfire as it is an admission by the Fed that the economy is in trouble. Stock indices and bitcoin reacted with growth, but now there is a pullback, let's see how the situation will develop further.
Part of my long position on bitcoin remains in the market. According to the open interest we can conclude that many long positions were closed today and maybe we will see a test of supports.
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Stay tuned. #BTC #FedRateCut #Macro $BTC
