The US stock market stabilized, and Bitcoin took off directly
Yesterday, I was still worried about whether it would usher in the "Black Friday" market, but the US stock market performed unexpectedly strongly after opening, and the slight rise provided an excellent opportunity for Bitcoin.
BTC broke through the intraday pressure level of $59,700 and continued to climb after the US stock market closed, breaking through the $60,000 mark in one fell swoop, and is currently trading sideways around $60,500.
As long as the US stock market remains stable, Bitcoin will naturally not deviate from the mainstream trajectory. Since the Bitcoin ETF landed in the US stock market, the trend of Bitcoin has closely followed the US stock market. Every policy adjustment of the Federal Reserve has profoundly affected the US stock market, and then influenced the global Bitcoin market. The United States has added another weapon to its harvesting tools in the global market!
As for today's market analysis, from the K-line chart, the 1-hour level has entered a high-level sideways stage, showing a downward trend.
But the 4-hour, 12-hour and daily levels all show an upward trend. The intraday pressure level is set at $52,110 and the support level is at $58,400. Before the rate cut is implemented, it is still recommended to focus on long orders and seize the opportunity of rising.
Next week on September 18, the Federal Reserve will detonate the rate cut bomb, and market expectations will surge!
With the recent easing of US inflation and rising unemployment, the Federal Reserve is under pressure to cut interest rates more significantly. Market expectations are rising rapidly, and everyone is speculating whether the Federal Reserve will take more aggressive rate cuts in next week's decision.
According to CME data, the market currently believes that the Federal Reserve has a 59% probability of a 25 basis point rate cut, and the probability of a 50 basis point rate cut is as high as 41%.
This change is very different from market expectations after the release of the US consumer inflation report on Wednesday, when everyone almost unanimously believed that the Federal Reserve would choose a moderate 25 basis point rate cut. This drastic change in expectations may trigger violent market fluctuations and deserves close attention!
