Yesterday, $BTC
oscillated between 91,000 and 92,000 dollars before the Federal Reserve's rate decision. Upon learning of the rate cut by one point, it remained above 92,000 dollars. Since this cut had already been anticipated by the market and the Federal Reserve did not have major changes in its outlook and plans for 2026, but mentioned that the pace of cuts could slow down. Currently, the members of the Federal Reserve board estimate that there will be another rate cut next year, but the market interprets that it will not be in January, hinting that the cuts could pause, so the market did not have an excessive reaction. And this time, the Federal Open Market Committee meeting is one that has had the most disagreements since Powell took office, where 6 board members believe that interest rates should remain unchanged. Powell also acknowledged in the Q&A session that most board members believe that the level of inflation remains relatively high and, although the labor market has cooled, it is stronger than expected, so there are reservations about the pace of rate cuts next year. Regarding the rate decision for next year, he emphasized that he needs to wait for more economic data to be clearer. Overall, Powell was more conservative in this speech, so the market remained stable after the press conference. And the next thing to keep in mind is the Bank of Japan's interest rate decision next week, the market already anticipates that the Bank of Japan will announce the start of a rate hike, possibly a hike will occur next week, although the market has already fully anticipated it, the spread trade that has lasted for 10 years has been hit, which is something the market has not experienced so far, how much liquidity will be withdrawn from this is also an unknown number, so perhaps the outcome of the Bank of Japan's rate decision next week will be key to the change in the market.