Bitcoin Faces Potential Consolidation as Fed Pauses Rate Cuts and Long-Term Holders Trim Exposure
Main Idea
Bitcoin's price is consolidating below $120K as the Federal Reserve pauses interest rate cuts, impacting market sentiment and long-term holder behavior.
Key Points
1. The Federal Reserve maintained interest rates at 4.25-4.5%, reducing near-term rate cut expectations and affecting Bitcoin's price momentum.
2. Long-term Bitcoin holders have distributed approximately 207,000 BTC in the past month, indicating potential risk management amid market uncertainty.
3. The Total Unrealized Profit (NUPL) metric reached a historic $1.4 trillion, suggesting increased selling pressure if market sentiment shifts.
4. The Fear & Greed Index has declined, signaling reduced risk appetite among traders and a cautious trading environment.
5. September rate cut odds fell from over 90% to 41%, while the probability of zero cuts in 2025 rose to 25%, recalibrating market expectations.
Description
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