ChainCatcher news, according to The Block, CryptoQuant 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 in the future.

The indicator shows that more and more Bitcoin holders are in a profitable state, which may reduce selling pressure and boost market confidence. However, Bitfinex analysts warned of caution, pointing out that the rise of Bitcoin was initially driven by spot market purchases, but the slowdown in this activity may lead to consolidation or partial pullbacks in the short term.