The Federal Reserve's boot has dropped. According to the dot plot, it shows that there may only be one rate cut next year. There are still significant divisions within the Federal Reserve, and the most important data will depend on the demand in the labor market for next year's rate cut strategy.
Now there is another boot waiting to drop, which is the matter of Japan raising interest rates. Currently, rumors widely suggest that around the 18th, the Bank of Japan may raise interest rates to 0.75%. If Japan starts raising rates and continues with a hawkish stance, global capital will begin to change its flow. This topic has already been discussed previously, and it will definitely be bearish for Bitcoin.
From a data perspective, long-term holders have been selling continuously, and the speed is faster than before. I don't know if they have noticed something. As for ETF data, it has been relatively stable recently, maintaining a balance between inflows and outflows.
