Bitcoin Finds Support at $115K After Fed Rate Cut to 4.25%

Key Points from Recent Market Developments:

The US Federal Reserve reduced interest rates by 25 basis points, bringing them to 4.25%. This was less than the anticipated 50 basis point cut.
Bitcoin's price found support above $115,000 following this decision. Despite concerns about gold reaching all-time highs over $3,700, crypto market liquidations were limited.
Total crypto market liquidations in a 24-hour period amounted to $267.44 million, with $178.64 million in longs and $88.81 million in shorts. Only $36.19 million occurred immediately after the Fed's announcement, indicating stable market absorption.
Bears currently hold $3.3 billion in active shorts on Bitcoin, while bulls maintain $2.3 billion in longs. A significant concentration of long positions exists around $114,458.
If Bitcoin maintains support above $114,500, a potential rebound is likely. Short positions heavily cluster around $118,000, where a breakout could trigger a short squeeze up to $124,500.
Without substantial trading volume increases, Bitcoin is expected to consolidate between $114,000 and $118,000 due to cautious market sentiment regarding unemployment risks highlighted by the Fed.