Last night's surge of Bitcoin can be described as rapid, continuously rising all the way, with prices peaking at around 107790, just a step away from higher peaks. Being in a bull market, it is indeed difficult to predict where its price ceiling lies. After all, Bitcoin serves as the core barometer of the cryptocurrency market, and its influence is significant. Currently, ETF spot funds are flooding into the market like a tide, and numerous positive signs are emerging, seemingly injecting continuous momentum into its strong performance. In such a situation, it’s hard not to be strong.
However, it is particularly noteworthy that the Federal Reserve will announce its interest rate decision the day after tomorrow. If the rate cut is indeed 25 basis points, the market's FOMO sentiment is likely to be ignited instantly, leading to large-scale follow-the-trend buying behavior. But after this wave of frenzy, the market is likely to enter a period of severe volatility. We must remain highly vigilant at all times, closely monitoring the key area below, specifically whether the range of 103000 to 102000 can effectively support the price's pullback pressure; at the same time, we need to focus on whether the important resistance level of 108000 can be successfully broken through above. Once this point is successfully breached, it is not out of the question for Bitcoin to launch a strong assault towards 110000, at which point the market will surely stir up a new round of grand market trends. Let us watch closely and prepare in advance for various changes.
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