Xiao O's BTC Market Analysis Today:

Bitcoin has broken through $117,000, with a 24-hour increase of about 3.7%-4.17%. The market is performing strongly, and the trend is upward. The current price is close to the strong resistance level of $117,800, and we need to be wary of the risk of a technical pullback, with key support around $116,500.

Xiao O's view on BTC's future trend: Powell hinted at a possible rate cut, and BTC responded by breaking through $116,000. In the short term, it's bullish, but we need to be cautious of the resistance level at $120,000 for profit-taking. In the medium to long term, if the Federal Reserve confirms a rate cut, improved liquidity may help BTC test previous highs.

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