**Bitcoin Breaks Out Amid Fed Rate Cut and Market Shifts**

This week saw significant market movements as Federal Reserve Chair Jerome Powell announced a 50 basis point interest rate cut. The S&P 500 hit an all-time high, and gold continued its upward trend. Bitcoin (BTC) also surged, reaching $64,133, though it remains within its six-month trading range.

Despite the Fed's policy shift, Bitcoin's price action is still driven by futures liquidations and options market activity. BTC is currently facing resistance at $65,000, aligning with the 200-day moving average. A close above $66,300 could break the descending trendline since April.

The recent uptick in Bitcoin's open interest suggests traders are eyeing the $64,000 to $66,000 zone. Additionally, the SEC's approval of options on BlackRock’s spot Bitcoin ETF could further impact the market.

As always, trading involves risk, and readers should conduct their own research.