Today is Wednesday, September 18, 2024. The Mid-Autumn Festival is over and we are back to the market. Bitcoin rose after the opening of the U.S. stock market last night and broke through the short-term pressure of 59,200 and began to push higher. It reached a high of around 61,300 and then fell back, and fell back to around 59,600. As of now, the price is around 59,600. At the current weekly level, Bitcoin still wants to continue to sprint, but in the short term, the intraday pressure is 61,300. It will break through and sprint to around 63,000. The support is 59,300, and if it falls below, it will go to around 58,000.
Ethereum is still moving in sync with Bitcoin. After the U.S. stock market opened last night, it went directly from around 2300 to around 2400 and then started to fall back. The current price is around 2280.
The news is that the Federal Reserve will announce its interest rate decision at 2 a.m. tonight, and Chairman Powell will hold a press conference afterwards. I personally think that the interest rate cut is basically safe and there will be no surprises. The current market focus is on whether the interest rate will be cut by 25 basis points or 50 basis points. According to market forecasts, 62% of people think that the interest rate will be cut by 50 basis points, and 38% think that the interest rate will be cut by 25 basis points. I personally think that the market will rise first in the early morning and then fall. No matter how much the interest rate is cut, it is good news for the time being. As for how much it can rise, it depends on the market's reaction.
As for the interest rate cut in the early morning, whether it is a 25 basis point cut or a 50 basis point cut, it has been predetermined that the market will be dominated by interest rate cuts in the future. For the market, it is the beginning of this round of bull market flooding cycle, which means long-term positive news on the capital side. Lowering interest rates will provide more liquidity to the US dollar. I believe that the real bull market will come soon.
My personal summary of the four major Bitcoin inscription leaders:
1、SATS
Advantages: It is listed on super exchanges such as Binance, has the largest market value, has a good narrative of Cong, and has strong market makers. Disadvantages: There have been too many bottom rebounds in the past month, and there are some profit-taking. Personal opinion: The future market is promising.
2、ORDI
Advantages: The first inscription, first-mover advantage, the dealer has a big pattern, no shipment at the previous high, inscription Dragon One, strong follow BTC trend. Disadvantages: The recent trend is slow. Personal opinion: The consensus of Xiaobing is deeply rooted in the hearts of the people.
3、RATS
Advantages: One of the leading BTC inscriptions, with large traffic and low market value. It is expected to be listed on Binance contracts and has sufficient time for adjustment. Disadvantages: It is not listed on a super exchange. Personal opinion: It has great potential and is optimistic about the future.
4、PIZZA
Advantages: The market maker is accumulating funds, the narrative of big cake buying pizza, unisat airdropped 2 million U at its own expense to more than 100,000 addresses, strong consensus, no speculation, no profit-taking and lock-in, low market value. Disadvantages: Currently not listed on a major exchange, insufficient liquidity, high risk. Personal opinion: optimistic about the subsequent market, but there are risks.
