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January 29 BTC Market Analysis
$BTC As always, the turning point in the market often quietly develops amid calmness. Major commodities like gold, silver, and copper have surged in volume, breaking through historical highs. Currently, on-chain funds are severely insufficient, and market capitalization continues to shrink. Last night, the Federal Reserve kept interest rates unchanged at 3.5-3.75%, which is a short-term bearish signal for BTC. Jerome Powell's speech is also very important. Last night, BTC dropped sharply by over 87,000, but after a rally during breakfast, it started to fluctuate downward to 87,658, forming a short-term bottom. There is a high probability of a small rebound, remember it’s a small rebound. The medium-term outlook remains bearish, and there haven’t been any recent positive signals!
Intraday suggestion: buy the dip
$BTC Buy long at 87600-88000
$ETH Buy long at 2950-2960