Scheduled 25 Basis Point Rate Cut, Bitcoin Hits New High
Yesterday we mentioned that Bitcoin is not at its peak, and the market makers are still quite accommodating. Old Powell announced a 25 basis point rate cut at 3 AM today, and Bitcoin has once again broken its historical high, reaching $76,880. Old Powell even stated that he would not resign due to Trump's competence, nor would he resign voluntarily, but it feels like he's being timid, doesn't it? The latest data from CME shows that the probability of a 25 basis point rate cut by the Federal Reserve in December is 70.5%.
Currently, the open interest for Bitcoin has reached a peak, with the fear and greed index at 75. It is recommended that everyone be cautious of market makers stirring up trouble. Additionally, the long-standing second place $ETH has finally caught up, standing at $2900. As long as Vitalik and the Ethereum Foundation do not mess things up, there is still potential. What do you think, brothers?
Back to today's market analysis, from the K-line perspective, $BTC is showing a downward trend on the hourly chart, and is about to enter a downward trend on the 4-hour chart as well. The 12-hour and daily charts are showing an upward trend, with daily resistance at $77,000 and support at $74,700.
