Cryptocurrencies Pull Back Against the Trend Amid Rate Cut Expectations: Is a $120,000 Bitcoin High Still Possible?
The current CME “FedWatch” tool shows an 87% probability of a 25-basis-point rate cut in December, fueling expectations of global liquidity easing. However, the cryptocurrency market is behaving unusually, with Bitcoin experiencing sharp volatility between $87,800 and $91,000, and total liquidations across the network reaching $350 million. This “expected positive news but a counter-trend pullback” phenomenon has sparked heated debate: Can Bitcoin break through to a new $120,000
The current CME “FedWatch” tool shows an 87% probability of a 25-basis-point rate cut in December, fueling expectations of global liquidity easing. However, the cryptocurrency market is behaving unusually, with Bitcoin experiencing sharp volatility between $87,800 and $91,000, and total liquidations across the network reaching $350 million. This “expected positive news but a counter-trend pullback” phenomenon has sparked heated debate: Can Bitcoin break through to a new $120,000
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