**Market Update**
Brother, the crypto market is full of drama these days, heavily dependent on the direction of the SPX. Last week, the SPX took a significant hit when the Fed announced that instead of a 100 bps cut next year, there will only be a 50 bps cut. The market didn’t take this well, as high rates mean a blow to companies’ profit margins, leading to an SPX pullback. Alongside, BTC also saw a 14% drop. Now the altcoin market is bouncing back, but the chances of SPX moving further down from its all-time high are higher.
**DOT’s Situation**
DOT has been performing impressively! It went from $4 straight to $11.64 and is now hovering around $7.50. Amid this pullback, it’s forming a falling wedge, converging around the $5.8 trendline. If it drops to $5.37, it could be a small jackpot for a long position based on the fib level! Also, the 50% pullback from $11.64 offers an exciting opportunity!
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