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, observing the clearing charts shows that the market is currently quite saturated. Despite the data potentially bringing good news, considering the market's irrational reactions, there may be a scenario of falling first and then rising.
For $BTC , if the price drops to $93,800, long contracts worth $2.5 billion can be cleared, while if the price rises to $115,000, short contracts worth $4 billion can be cleared.
Recently, although Bitcoin and Ethereum have performed reasonably well, other cryptocurrencies are basically stagnant, mostly at the bottom range. As the United States is about to enter the New Year holiday, the market may experience some volatility.
If the overall market experiences a decline, those poorly performing cryptocurrencies may face greater pressure, which is not conducive to creating a good holiday atmosphere. Furthermore, this situation could also affect public sentiment, thereby impacting Trump's approval ratings.
