$63,779.12
24h
-6.41%
14 Nov, 19:37
Bitcoin Ranging, Awaiting Rate Cuts for Bull Run
Neutral-2.65%
AI Summary
The author anticipates Bitcoin will remain in a short-term consolidation phase with limited directional movement, waiting for Federal Reserve rate cuts to initiate a new bull market cycle.
Nasdaq plummeted last week
I had previously warned of the risk of catch-up declines in the crypto circle
This week, Nasdaq has actually stabilized
Bitcoin is unlikely to surge significantly in the short term
But the downside space is also limited
For now, I still hold the previous view
Bitcoin has no main upward wave
Only oscillation
Such a market requires
the resumption of rate cuts to enter a bull market
Or expectations of rate cuts