This week's most eye-catching event is undoubtedly the interest rate decision at 3:00 AM on Thursday, followed by Powell's speech at 3:30. The probability of a rate cut has risen to 86%.
If the Federal Reserve cuts rates by 50 basis points on December 10, the cryptocurrency market is destined to receive a strong boost, and liquidity will rise accordingly. Both BTC and ETH have the opportunity to soar again, and as the dollar weakens, the risk asset sentiment will directly surge.
However, if the cut is minimal and Powell remains hawkish, the market is likely to experience a brief surge followed by a halt, continuing to grind in the range.
In a nutshell: Doves fly, hawks shake.
