ChainCatcher message, Glassnode pointed out in a study released on September 25 that after the Federal Reserve cut interest rates by 0.5%, Bitcoin has reclaimed the short-term holder cost basis of approximately $619,000. If the price also remains above the 200-day moving average of $639,000, this rebound may have technical significance. This is because Bitcoin has reclaimed the short-term holder cost basis ($619,000) and the 200DMA ($639,000). Additionally, new investors have shown a certain level of resilience, with actual losses being relatively small, indicating confidence in the overall upward trend. The perpetual futures market has shown cautious signs of recovery, with demand gradually increasing, but still below the levels seen during a strong bull market.

ChainCatcher news, FxPro senior market analyst Alex Kuptsikevich stated in a report that the increase in market risk appetite following the Federal Reserve's decision has helped cryptocurrencies reach new highs in the past three weeks."Since March, a downward trend has been present, with the previous peak of around $64,000 roughly coinciding with the 200-day moving average. We believe Bitcoin may encounter strong resistance at this level, and once this point is broken, the path upwards will be opened," Kuptsikevich said.

ChainCatcher news, the 200-day Simple Moving Average (SMA) of Bitcoin (BTC) is about to lose bullish momentum. TradingView data shows that since the end of August, the daily average increase of this indicator has been less than $50, far below early-year levels. Currently, the indicator stands at $63,840, while the spot price of Bitcoin is $55,880. Analysts point out that this may signal a pause in the trend or a shift to bearish. The short-term moving averages have peaked and are trending downwards, with the 100-day SMA crossing below the 200-day SMA, confirming a bearish crossover.FxPro analyst Kuptsikevish states that Bitcoin's key support level is just above $54,000. Several market observers, including former BitMEX CEO Hayes, expect Bitcoin to potentially drop to $50,000. The upcoming U.S. non-farm payroll report may trigger price volatility; weak employment data or heightened recession fears could increase the probability of a Federal Reserve rate cut, potentially providing support for Bitcoin.

ChainCatcher news, according to Cointelegraph, the price of Solana (SOL) has been weakening recently, with a weekly decline of 19.14% at the end of August, marking the second largest drop since 2024. Data shows that SOL has closed below the 200-day moving average for several consecutive days, the first time since September 2023. Technical analysis indicates that SOL is facing a test of the key support level at $127. Since April 2024, SOL has briefly fallen below $120 six times, but each time it managed to close above $127. However, this decline has lost the support of the 200-day moving average, and if it breaks below $127, the next target price could be $110.In the derivatives market, open interest has risen by 20%, and the funding rate has been negative for a week, reaching -0.001, the lowest since 2024, further confirming the bearish sentiment in the market. On-chain activity shows that the DEX trading volume in the Solana ecosystem dropped to $7.7 billion last week, hitting a six-month low. Independent trader Bluntz_Capital pointed out that the SOL/BTC weekly chart is performing poorly and may have peaked. If the market remains bearish in September, SOL could retest the demand zone of $98-104. In the worst-case scenario, SOL may fall below the $100 mark.

ChainCatcher news, according to The Block, YouHodler risk manager Sergei Gorev stated that a "death cross" has formed between the 50-day and 200-day moving averages, indicating that despite a brief rebound in the cryptocurrency market, further declines may still be possible.In addition, BRN analyst Valentin Fournier said: "The decline in Bitcoin open interest has outpaced the drop in token prices, indicating that investor confidence and interest have waned due to still high volatility. Trading volume is also below most weekends, suggesting that the slight sell-off is not supported by strong bearish action."