$355M Rekt as Bitcoin Hits $115K: Fed Rate Cuts to Extend Rally?

Group 1: Bitcoin Price Movement - Bitcoin's price surged past $115,000, reaching a daily high of $116,317, marking a nearly 3% weekly gain [1] - The surge resulted in over $354 million in liquidations for leveraged traders, with $121 million from long positions and $233 million from short positions [1] Group 2: Federal Reserve Rate Cuts - A Reuters survey indicated that 105 out of 107 economists expect the Federal Reserve to cut rates by 25 basis points on September 17, lowering the target range to 4.00%–4.25% [2] - Weak labor market data has shifted sentiment towards a more aggressive easing path, with markets pricing in at least one rate cut and expectations for up to three reductions by year-end [3] Group 3: Market Indicators and Sentiment - CryptoQuant's Bull Score Index shows eight out of ten core market indicators are bearish, raising concerns about Bitcoin's short-term outlook [4] - The CoinGlass Bull Run Index (CBBI) is at 74, suggesting the market is about three-quarters through the current bull cycle, but only one of its 30 peak signals has triggered [5] Group 4: Potential for Continued Rally - Despite the recent liquidations and bearish signals, macroeconomic conditions could support Bitcoin's price if the Fed cuts rates and adopts a dovish stance [6]