#数字货币市场洞察 $92,000! Bitcoin leads the rally, crypto market turns bullish

The crypto market has been quite active lately—BTC has surged strongly to $92,000, and the rebound over the past 24 hours has definitely been surprising. Major coins are rising, and even some small tokens are benefitting, creating a rare situation where the whole market is up.

The logic behind this rally isn’t complicated; simply put, it’s all about expectations around the Federal Reserve’s policy.

This week, the Fed’s interest rate decision is about to be announced, and the market has already priced in a 95% probability of a 25 basis point rate cut. In other words, expectations for looser liquidity have been fully accepted by the market. Capital is always quick to react, and positioning ahead of time has become the norm—this kind of “trading on expectations” routine is already a well-practiced play.

You can see even more clues from institutional actions.

Last week, top institutions started making big moves—scooping up 10,000 BTC in just one week, and putting down $1.2 billion as a risk hedge. This “daring to accumulate at the top, hedging risk first” approach has invisibly injected a dose of confidence into the market. Retail investors seeing institutions operate like this naturally feel much more at ease.

The sentiment in the futures market has even gone to extremes.

Open interest soared to $129.9 billion, and in just one day, over $300 million in short positions were liquidated. The bulls continued to suppress the bears, and sentiment became overheated at times. But it’s worth noting, this rebound is still fundamentally driven by policy expectations—the underlying fundamentals haven’t qualitatively changed. If the Fed’s decision isn’t as optimistic as expected, there’s a risk of a short-term correction.

So, it’s wise to stay rational and avoid blindly chasing the highs out of emotion. In this period before the policy is announced, managing your pace and controlling risk should be the top priorities. $BTC