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On the morning of the 19th at 3 AM, I believe everyone will be focused on the news of 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 to cut rates. The risks in the meeting are still the dot plot, including Powell's speech emotions.
If Powell makes statements about slowing interest rate cuts mid-way, then the market will react with a certain drop; thus, we still need to see what the old Powell says. Currently, the market's adjustment is driven by risk aversion, not a real bearish trend. The main trend is still bullish, especially since BTC and ETH's ETFs have consistently maintained net inflows. As mentioned in yesterday's article, many listed companies and institutions are willing to raise their costs to buy BTC, proving that 100k is merely a starting point for them.