This is a cycle without bulls or bears

After a few months of decline, a wave of increase is the normal state of the future market.

We are in a super cycle of Bitcoin, and the final price of BTC should exceed 200,000, or even 500,000 USD!

However, this wave around 110,000 is the peak of this phase, and my personal opinion remains unchanged!

First, the easing of tariffs between China and the U.S. from 100,000 to 110,000 is a positive factor, which provides emotional momentum.

Once the positive factors are realized, the market will slowly re-evaluate.

However, I currently do not see any key points that can help break through 120,000 or even the 150,000 that everyone is talking about.

Let's talk about interest rate cuts:

1. The market generally expects the Federal Reserve to start cutting rates in September 2025.

2. JPMorgan predicts it will be in June or July.

First of all, June is unlikely, as the market predicts the probability of an interest rate cut is only over 20%, and even if there is a cut, it will be at most 25 basis points.

I believe that the probability of a rate cut in September is the highest.

I also looked at the Federal Reserve's meeting schedule, and August is a window period for meetings, which is quite interesting.

Whether in July or September, Bitcoin's price will react in advance to the interest rate cuts.

The current increase is partly due to expectations of rate cuts.

So regardless of whether the cut happens in July or September, October is a critical point.

The market will naturally reach a bottom after the first phase of the rate cut lands, and then gradually enter a new market as the rate cut slowly unfolds.

The above content is just my personal humble opinion.

The mountains are high and the road is long. On the journey of following Bitcoin, I hope everyone does not fall behind, just go for it!