Interest rate cut probability soars to 85%! Is Bitcoin about to hit 90,000 in countdown?
The dollar is quite weak, as economic data is average, along with the possible change of the Federal Reserve chair, the market feels that the probability of a rate cut in December has risen to 85%. This is good news for the cryptocurrency market.
Such a high expectation for a rate cut is equivalent to providing a bottom for the market, making a significant drop relatively difficult. However, just having this expectation is not enough; the price needs to perform well and break through key levels.
Bitcoin: The focus is on whether it can break through and stabilize above 90,000. The following level, 88,500-89,000 ** must not break.
Ethereum: The strength to watch is ** 3,050-3,100 ** in this area, only then can it be considered truly strong.
For those already holding, you can hold on and move your stop loss up a bit.
For those looking to open new positions, don’t rush to chase the high. It’s best to wait for the price to pull back to the support levels mentioned above, stabilize, and then consider it, and make sure to set a stop loss.
For those who haven't entered yet, consider buying some Bitcoin or Ethereum in batches.
Now everyone expects a rate cut, be careful when the news is officially announced, as the market might experience a short-term correction due to “good news already priced in.” Don’t just get excited about the news; ultimately, you still need to see if the price and trading volume are in sync.
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