According to BlockBeats, on September 24, CryptoQuant pointed out that the price of Bitcoin rose nearly 8% after the Federal Reserve cut interest rates by 50 basis points. Its “profit supply” indicator has broken through the 365-day moving average, indicating that further increases may be possible in the future.

The indicator shows that more and more Bitcoin holders are in profit, which may reduce selling pressure and improve market confidence. However, analysts warned that Bitcoin’s rise was initially driven by spot market purchases, but the slowdown in this activity may lead to consolidation or partial pullback in the short term.

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