Analysts: As the Fed's interest rate cuts approach, market volatility surges, presenting a typical consolidation pattern before a breakout.
BlockBeats reported that on October 29, CryptoQuant analyst Axel posted on social media stating that the market generally expects the Fed to cut interest rates by 25 basis points, with volatility soaring to 54%. Bitcoin is currently hovering around $113,000, still firmly maintaining the seven-day trading volume weighted average support level, and the overall bullish structure remains unchanged. As volatility surges, the current technical pattern shows a typical accumulation phase before a breakout.
