🚀Bitcoin prices soared, climbing 5% on the eve of the Fed meeting, approaching the $61,000 mark! However, the secret weapon on the Binance order book - the huge sell orders in the $61,000 to $62,500 range, seems to be quietly laying a "dragnet" to stop the rise invisibly. 💼
🔍Key points revealed:
Bitcoin took the lead and led the cryptocurrency market to surge, but the undercurrent of selling pressure surged, and the Binance order book became a key resistance point. 💪ETH, SOL, XRP, ADA, AVAX and other mainstream altcoins followed closely behind, with gratifying gains, all dancing in the 2%-4% range. 💃Investors tacitly know that the Fed's interest rate cut drama is about to take place, but this "sweet" expectation also hides the risk of market volatility. 🎢The extent of the interest rate cut is a mystery, and market expectations are wavering, like seeing flowers in the fog, elusive. 🔍As history has shown, a sharp interest rate cut during an economic recession, although intended to save the market, may also cause market panic and stir up waves. 🌊Fortunately, the current inflation has eased and the unemployment rate has quietly risen, paving a "green channel" for the Fed to quickly cut interest rates. 🚦Looking to the future, investors are full of confidence and expect the federal funds rate to make a gorgeous turn before the end of the year, cutting it by 125 basis points, injecting new vitality into the market. 🎉
