Interest rates have been cut, but the cryptocurrency has plummeted.
The market has plummeted, and the digital assets held have significantly depreciated.
However, my cash reserves are basically solid, and I won't lack money for living expenses. So I'm not worried at all.
The interest rate decision at dawn is a cut of 25 basis points. But the market plummeted. Usually, after a rate cut, the market rises, but it suddenly fell. The liquidation line for long positions in contracts is densest in the $98,000 to $104,000 range.
The price of Bitcoin has directly reached $98,500. The market is so unpredictable; guessing market trends and betting on cryptocurrency prices is something no one can truly achieve.
When the market is good, many people boast about what price they bought at and how much they earned. But none of this matters for your future class change. Essentially, it is just a form of self-spiritual satisfaction. Unless you convert your earnings into Bitcoin. After one cycle, you can basically understand the meaningless logic behind it.
After such a big drop, the obvious information in the market is that in 2025, four rate cuts were originally expected, but now it's anticipated that there will only be two cuts next year. The Fed chairman said: We are not allowed to hold Bitcoin, nor do we wish to change the law.
Damn it. It's really a show. But you have to understand, market policy is not determined by them. They have to look at the data; words can be said freely, but policies cannot be made casually. Policies are determined by data. Ultimately, how the rate cuts happen next year will still depend on various data.
He could have chosen not to say this, so why did he? He stated this. Bitcoin remains the same Bitcoin, and the market remains the same market. Nothing has changed. But the market is filled with turmoil. It's just that it has risen too much. It needs to drop a bit to clear the leverage. When Bitcoin rises by 10%, how much do they actually earn? It's the contract money that the speculators like.
Contracts can be leveraged, and many people engage in contracts. Altcoins have already dropped significantly, with Doge and Pepe down 10%-17%. The inscription Ordi has reached 27U, and it fell to 34U when Binance delisted it.
This indicates that large funds are fleeing. Whether it's a temporary washout or a permanent escape, who knows? But at this time, there is a difference in perception. Whether you dare to buy depends on your judgment. So making money in altcoins is extremely difficult; it takes several months to build momentum and earn 50%.
You can lose half your gains overnight. Without a good heart, it's really unbearable. But I want to say, this is just the beginning.
Bitcoin needs to reach $150,000, ETH needs to reach $8K. Doge needs to reach $1. Pepe needs to grow five times. This process of rising will wash countless people out.
We can only allocate and wait; we can't really do anything else. Moreover, the fluctuations will only grow bigger.
In the end, the market will filter out those who truly deserve this wealth.