The Fed cut interest rates by 25 basis points in September. Bitcoin consolidates around 57,000
According to CME's "Fed Watch", the probability of a 25 basis point interest rate cut in September is 69%, which is basically set in stone. It is neither good nor bad. It is expected. At 8:30 p.m., the U.S. Congress will release the August CPI data. If the data released is far lower than expected, it will affect the basis points of interest rate cuts, thereby causing huge market fluctuations. Pay attention here.
Yesterday's market review, Bitcoin fell back to around 57,000 after rising, and the market generally did not experience a sharp rise or fall. After the opening of the U.S. stock market, Bitcoin fell slightly, and began to rise after 0 o'clock and touched 58,000 without falling back. There was a small drop just now, breaking 57,000. It is still hovering here.
Today's market analysis: From the K-line, the 1-hour level is a downward trend, the 4-hour level is about to enter a downward trend, and the 12-hour and daily levels are both upward trends. The intraday pressure level is $59,100, and the support level is $55,480. You can short one lot at the hourly level. The general direction is still upward.
