Tonight, the Federal Reserve lowered interest rates by 25 basis points as expected and hinted at stopping the balance sheet reduction in December, but the market reacted calmly. U.S. stocks performed reasonably well, while Bitcoin continued to decline.

In the short term, the market may experience a "Sell the News" sentiment, as the October rate cut has already been priced in. Investors' expectations for another rate cut in December have been suppressed by Powell's remarks, especially his clear statement that rates will not be cut further unless the unemployment rate rises significantly. Although there are internal disagreements, the Federal Reserve remains overall cautious.

Returning to the $BTC data perspective, the price has dipped but the turnover rate has not increased, indicating that sentiment has not worsened. It mainly reflects short-term funds adjusting, while long-term holders remain stable. The current structural support remains solid, and if subsequent tech stock earnings reports are strong, it may drive a market rebound, and BTC could also see a recovery trend.

This article is sponsored by #Bitget ｜ @Bitget_zh

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