Double negative news, what will happen to Bitcoin in the future?

Bitcoin has experienced double negative news in recent days:

1. On October 7, the US Supreme Court refused to hear the case of Battle Born Investments regarding the ownership of 69,370 $BTC seized from Silk Road, allowing the US government to freely sell the bitcoin worth more than $4 billion.

2. The US September inflation data released last night was higher than expected, and then Atlanta Fed President Bostic, who is a voting member of the FOMC, said that he was open to not cutting interest rates in November.

Under the double negative news, $BTC fell below 60,000 in the early morning this morning, and fell to 58,864 on Coinbase.

Then $BTC rebounded strongly, quickly rebounded to more than 60,000, and rebounded between 59,000 and 60,000 and continued to increase in volume, completely absorbing the selling pressure in the early morning. This shows that the buying of Bitcoin is still very strong.

Moreover, the three FOMCs said that they were not worried about the higher-than-expected September inflation report and still supported further interest rate cuts. Currently, the probability of a 25 basis point rate cut in November on CME "Fed Watch" is still as high as 86.4%, so it is highly likely that there will be a rate cut in November.

Therefore, there is no need to worry too much about the subsequent trend of Bitcoin. It is highly likely that it will not fall below the support level of 57,500. Next, $BTC may fluctuate sideways for a few days before starting to rise.