# BTC Market Dynamics: Technical and Data Analysis

On July 29, BTC broke through 70k and entered a downward trend. On August 5, it rebounded to 65k and fell again, forming a double bottom structure on September 6. On September 19, the Fed cut interest rates, and BTC rose accordingly. During the US trading session on September 26, BTC broke through the previous high of 65k, and the market structure changed.

Technical analysis shows that the trend of USDT.D will affect the future trend of BTC. If USDT.D rises after stepping back on the rising trend line, BTC will be short-selling; if the trend is reversed, BTC will be long-selling.

Data analysis shows that BTC broke through the previous high but the bullish momentum is insufficient, and attention should be paid to the support strength of EMA20 and 50 at the 4-hour level. The order book shows that there are a large number of sell orders at 66-66.7k and a large number of buy orders at 62-63k, and the market needs to observe carefully.

Macro analysis believes that the rise of BTC may be due to low liquidity. The Fed's interest rate cut and the expectation of a soft landing of the US economy have a positive impact on the market. Short-term holder sentiment increased, but early investors held steady.