At 3 AM on the 19th, I believe everyone will be watching the news about the Federal Reserve's interest rate cuts. However, the market has already firmly priced in a 25 basis point cut, so it is highly likely that the market will follow the script for a rate cut. The real risks in the meeting still lie in the dot plot and the tone of Powell's speech.
If Powell mentions plans to slow down rate cuts next year, then the market will react with a certain decline, so we still need to see what old Powell has to say.
Currently, the adjustments in the market are driven by risk aversion, and it does not indicate the arrival of a genuine bearish trend. The main trend is still bullish, especially since BTC and ETH ETFs have been experiencing net inflows. Many listed companies and institutions are willing to raise their costs to buy BTC, which proves that $100,000 is just a starting point for them.
