According to the latest insights shared by seasoned market observer Axel on October 29, as market expectations for a 25 basis point rate cut by the Federal Reserve grow stronger, market volatility has risen significantly to 54%. Currently, the price of Bitcoin fluctuates around $113,000, still holding above the seven-day Trading Volume weighted average support level, and the overall bullish trend remains intact.

It is noteworthy that the significant increase in current market volatility, along with the price trend, constitutes a typical consolidation pattern before a breakout. This technical formation often indicates that the market may soon experience an important directional breakout, and investors should closely monitor subsequent developments.

At this critical moment of the Federal Reserve's monetary policy adjustment, the cryptocurrency market's displayed state of readiness has attracted widespread attention. Despite the intensified short-term fluctuations, the fundamentals supporting Bitcoin remain solid, indicating that the current market structure still leans towards bullish.