#巨鲸行为分析 With the Fed's interest rate cut of 25 basis points at 2 a.m. almost a foregone conclusion, the market's focus has shifted from the rate cut itself to the flow of funds after the policy is implemented. As the market had long anticipated this rate cut, the funding sentiment has already reacted in advance. Next, Powell's speech is expected to become a key turning point, potentially triggering significant market fluctuations.

From the market performance perspective, Bitcoin attempted to break through 116,000 USD for the third time yesterday but failed, subsequently retreating into a state of fluctuation. The market is still in a wait-and-see phase, awaiting news. In the short term, investors are looking for clearer market signals, and once a direction is established, the market may rapidly expand.

For the operating strategy, if the price retraces to the range of 110500-111000, consider building a position moderately; the important resistance levels above are at 114000 and 116000. If it can effectively break through and stabilize above these levels, it is expected to further advance towards the 120000 USD region in the future.

Comprehensive analysis suggests that the onset of this interest rate cut cycle may lead to a marginal improvement in the overall liquidity environment, but investors still need to be vigilant about the risks brought by short-term market fluctuations. In the current market environment, maintaining a reasonable pace, strictly controlling position ratios, and rationally responding to market changes are key for investors to achieve long-term stable returns. $BTC