Today's Market Overview FOMC Day... Still mainly observing... From a funding perspective, Binance spot is still seeing continuous buying... However, price fluctuations are largely determined by futures contracts... (See Figure 1, green circle) Yesterday, as the price slowly rose, the open interest (OI) decreased, essentially indicating short covering. The middle area is generally quite random... with limited trading opportunities... ---------- From the order book (Figure 2) The trader who had several 100 BTC sell orders at 82.5k cancelled them today... There are still orders below 79k for spot... The middle area is a vacuum, so the price movement is mainly driven by futures funds... A large number of futures orders near 79k were gradually cancelled as the price rose... Currently, most orders are still below 80k. ---------- There wasn't much to predict at today's FOMC meeting. The expectation of no rate hike today is basically priced in, and a December rate hike is still priced in as a high probability event, around 75%. The main focus will be on whether Warsh's speech after the meeting will change the consensus on a December rate hike. --------- I won't speculate on the direction... After today's FOMC meeting, there are also major companies' earnings reports... See Figure 4 for the current liquidity range...