$BTC while everyone is waiting for the fed rate cut,
the market has over reacted and took sell scenarios while the whales are accumulating..
There is a 99.9% chance that the current interest rates will remain between 4.25% and 4.50%, leaving just a 0.1% probability of a 0.25% rate cut, according to CME’s FedWatch tool.
However, market participants say that any bearish price action from unchanged interest rates is already priced in.
Market participants have now turned their focus to Jerome Powell, to the US Fed chair’s speech after the FOMC meeting. The Federal Reserve and Powell are under pressure from US President Donald Trump to lower interest rates.
having said that; a reverse to the uptrend is more likely to be witnessed and to touch back the 108k levels...