CPI meets expectations, with a high probability of a 25 basis point rate cut in December at 98.6%. Institutions continue to buy aggressively, leading to a significant rise in Bitcoin and Ethereum. Today, altcoins are also showing signs of stopping their decline and collectively experiencing an uptrend.

The slow upward trend from the previous day has turned into a one-sided rise, strongly breaking through the 100,000 mark, reaching a high of 101,899 at one point, and testing the non-farm payroll high of around 102,000. Currently, there has been a slight pullback to around 100,600 for adjustment. With the expectation of a rate cut boosting sentiment, Bitcoin is likely to continue its upward trajectory. Attention should be paid to the resistance around 102,000, while support is noted around 99,500. The strategy is to maintain a primary long position with a supplementary short approach.

For the upper range of 102,000-102,300, consider short positions, targeting the 100,500-100,800 area.

For the lower range of 99,300-99,600, consider long positions, targeting the 101,000-101,500 area, with Ethereum following suit!