I believe that as the price of Bitcoin rises, the volatility will also increase. From 49,000 US dollars, it has risen by 20,000 US dollars, an increase of nearly 41%. This increase almost kills all altcoins, so whether Bitcoin can break through and stabilize at 70,000 is the key.
A breakthrough and stabilization here will excite altcoins and drive altcoins to make up for the rise. Otherwise, no coin can rise more than Bitcoin. In addition, the liquidity brought by the interest rate cut can completely activate the altcoin bull market.
Next month, we will have two consecutive interest rate cut meetings. According to market forecasts, it will be good if the interest rate can be cut by 25 points each time. Recent data shows that the US economy is still resilient. Next week, we will also usher in the financial reports of technology companies, which will directly affect US stocks and Bitcoin.