📊｜The storm before the interest rate meeting
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After the opening of the US stock market last night, BTC was affected by it and also pulled up with a 5% increase. This seems to be the market's early response to the interest rate cut before the parliament.
It reminds people of the market's early response before the ETH spot ETF was passed a few months ago, which led to the market to rise. Last night, ALT in L2 rose by 11.33%, and ethfi also rose by 7.7%
Before this wave of pull-ups, you can see that many people are shorting and bearish on various platforms. This wave of post-autumn reckoning has actually cleared a lot of shorts
♦️BTC's rise this time is the result of the combined effect of multiple factors, including the positive performance of the US stock market, expectations of interest rate cuts, and short covering. It is worth noting that BTC's small cycle reverses the large cycle and completes the breakthrough trend within the convergence. The currency circle will experience a storm in the next two days, and the market will be very intense. Please manage your positions well
