In the early morning of the 17th, BTC experienced a retracement to the support level and then rose rapidly around 9 pm.

This wave of rise shows that the market has almost reached a consensus on the 25 basis point rate cut. Forecast data shows that 64% of people believe that the Fed will cut interest rates by 50 basis points at 2 am on the 19th.

Regardless of the extent of the rate cut, the future market trend will be dominated by rate cuts. Rate cuts will increase US dollar liquidity and lay the foundation for the upcoming bull market.

The current price has entered an area of ​​fierce competition between long and short parties, and both long and short positions are reasonable. At the same time, this trend is closely related to the first rate cut policy this year.

It is expected that the market volatility will be very intense in the future, and both long and short parties have begun to lay out for the expected rate hike on the 19th.

Data shows that in the next 7 days, BTC faces a short position liquidation of $469 million at $61,800, and a long position of $347 million at $59,300 to be liquidated.

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