A new week begins with the morning BTC breaking its historical high. With each new high, there are always concerns about a pullback; these worries are largely psychological. After all, it is still FOMO time in Asia. The points that truly need concern will come later in the evening after the US stock market opens when we can observe market changes. Currently, the good news is that after MSTR was included in the Nasdaq 100, institutional funds have been continuously increasing their positions, which undoubtedly injects more confidence into the market and sets the stage for BTC to continue its rise! Hopefully, tonight will see significant performance from ETFs, meaning don't crash BTC, as the sentiment remains very positive. The most important event this week is the Federal Reserve meeting on the 19th. According to current market predictions, there is over a 95% chance of a 25 basis point rate cut, which is positive for the market. The market will likely seize this opportunity to rally. Previously strong altcoins will need to be revisited, as the market tends to rotate through different assets without any strong new stimuli. After AI, there may be renewed interest in strong altcoins like Pepe, Sol, Punt, Doge, and so on...
The meeting will mainly feature Powell's speech, which could stimulate new market sentiments. Japan is unlikely to raise interest rates this month, so in the upcoming market conditions, one must pay attention to their spot costs, especially with Christmas just a few days away!
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