Core Viewpoint - The Federal Reserve's decision to cut interest rates by 25 basis points was anticipated, but Chairman Powell's hawkish comments during the press conference led to significant market volatility, particularly in the cryptocurrency sector [1][3]. Group 1: Market Reaction - Following Powell's remarks, Bitcoin's price dropped sharply, falling below $110,000 to a low of $109,945.75, marking a 4.16% decline within 24 hours, with trading volume surging to $66.054 billion [1][3]. - The market's expectations for a December rate cut shifted dramatically, with the probability of a 25 basis point cut dropping from over 90% to 67.8%, while the likelihood of maintaining the current rate rose to 32.2% [4]. Group 2: Technical Analysis - Bitcoin's perpetual contract market experienced heightened trading activity post-Powell's comments, with technical indicators showing a bearish trend, including a significant negative MACD and a KDJ value of 26, indicating a potential bottoming phase [6]. - Key technical support for Bitcoin is identified around $113,000, with on-chain data suggesting selling pressure from both short-term and long-term investors [6][7]. Group 3: Whale Activity - Despite the overall market pressure, some large investors, referred to as "smart money," are increasing their leveraged long positions, with notable transactions totaling $45.53 million [9]. - Specific traders have made significant leveraged purchases, indicating confidence in Bitcoin's long-term prospects despite current volatility [9]. Group 4: Market Outlook - The uncertainty surrounding the Federal Reserve's policy direction and the potential impact of government shutdowns on economic data may complicate future rate decisions [11][12]. - Some analysts maintain a bullish outlook for Bitcoin, predicting it could reach $150,000 by year-end, with long-term projections suggesting a rise to $1 million within the next 4 to 8 years [11].