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Market Sentiment Remains Bearish Amid Potential Rate Cut Expectations

20/08 23:43

According to BlockBeats, Greeks.Live released a daily market briefing on August 20, indicating that overall market sentiment remains bearish in the short term. Many traders are focusing on the support range between $110,000 and $108,000, anticipating a possible dip to these levels. There is a division among market participants regarding the onset of a bear market, with some community members suggesting that continued declines next Monday would confirm its arrival. The period from mid-September to October is viewed as a potential rebound window, with expectations that a rate cut policy might lead to a market turnaround. Technically, the weekly MACD for BTC is facing the risk of a bearish crossover, similar to the market conditions observed in December last year, with an anticipated adjustment period of approximately one month.

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