At 3 AM, the Federal Reserve will announce a key interest rate decision
Before analyzing the data, although it is expected that the data will have a positive impact on the market, the observation of the clearing charts shows that the market is currently quite saturated. Despite the potential for favorable data, considering the market's irrational reactions, there may be a situation of initially falling before rising.
For $BTC , if the price drops to $93,800, it can liquidate $2.5 billion of long contracts, while if the price rises to $115,000, it can liquidate $4 billion of short contracts.
Recently, although Bitcoin and Ethereum have performed reasonably well, other cryptocurrencies are generally stagnant, mostly located in the bottom area. As the United States is about to enter the New Year holiday, the market may experience fluctuations.
If the market falls, those underperforming cryptocurrencies may face greater pressure, which is not conducive to creating a good holiday atmosphere. Additionally, this situation may also affect public sentiment, thereby impacting Trump's approval ratings.
