The crypto market is up today due to a combination of factors:
- Liquidations Drop: Liquidations plunged 60% to $328 million, and futures open interest improved slightly to $125 million.
- Fed Rate Cut Odds: The odds of a Federal Reserve interest rate cut in December have risen to 90%, boosting investor confidence.
- Quantitative Easing: The Fed has ended quantitative tightening and may soon begin quantitative easing, injecting liquidity into the economy.
However, the ongoing rebound might be a dead-cat bounce (bull trap), where the market temporarily recovers before resuming its downward trend. The crypto market has experienced several bull traps in the past few months, making it essential to be cautious.
BTC
93,186.5
+5.33%