The market may need a week to fully digest the impact of the Federal Reserve’s first interest rate cut in nine months.
As risk appetite continues after the FOMC, the improvement in technical sentiment is seen as an additional positive for Bitcoin, making it possible for BTC to test $120000.
If Bitcoin successfully breaks through $120000, a complete correction may emerge;
The market may need about a week to digest this result and then return to normal, refocusing on inflation and interest rate changes.
The buying of Ethereum has shown a significant slowdown, even approaching stagnation. Although new dat constantly emerge, a discount in market value can seriously affect financing ability, thereby disrupting scale and sustainability. In short, the positive news has been digested by the market, and in the short term, it is no longer possible to use it as a narrative driven upward trend, so it is difficult to break out of independence at this stage.
Seeing that the giant whale is also continuously taking profits on the chain, whether it will create selling pressure on the market depends on the market making market’s ability to absorb external positions. If it cannot be digested off the exchange, it will eventually have to circulate within the exchange, and its price will inevitably be impacted.
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