Gate Research Institute: Wosh is expected to accommodate interest rate cuts in the short term | The market may experience a technical reboundCryptocurrency Market Overview
BTC (+1.74% | Current Price $77,765 USDT): Bitcoin has experienced a sharp sell-off and is currently trading between $77,000 and $78,000. Over the past two weeks or so, Bitcoin's price has dropped approximately 20%, during which over $1.6 billion in leveraged crypto positions were forcibly liquidated. After the de-leveraging phase, macro policies are the primary driver behind the current revaluation of Bitcoin prices. If the market shifts towards more cautious rate cut expectations, the policy environment will be unfavorable for assets that rely on low-cost leverage and abundant liquidity. From a technical perspective, there is strong resistance above $90,000, while strong support is seen around $73,000. If this level is broken, the next target for the price is likely around $72,000, which corresponds to 2024.
GateResearch·14h ago