Odaily Planet Daily reported that CryptoQuant recently pointed out that the price of Bitcoin rose nearly 8% after the US Federal Reserve cut interest rates by 50 basis points! 📈 Its "profitable supply" indicator has broken through the 365-day moving average, indicating that further increases may be possible in the future. This indicator shows that more and more Bitcoin holders are currently in a profitable state, which may reduce selling pressure and boost market confidence. 🚀

However, Bitfinex analysts reminded everyone to be cautious. They pointed out that Bitcoin's rise was initially driven by spot market purchases, but the slowdown in this activity could lead to consolidation or partial pullbacks in the short term. ⚠️

Overall, despite market volatility, Bitcoin still shows strong upside potential. 💪