This is a cycle without bulls and bears Falling for a few months, rising one wave, is the norm for the future market We are in a super cycle of Bitcoin, and the final price of BTC should exceed 200000, or even 500000 US dollars! But this wave of around 110000 is the peak of the stage, and my personal opinion remains unchanged! Firstly, 10 to 11 is a positive factor for the easing of tariffs between China and the United States, which has an emotional driving force. When favorable news is implemented, the market will gradually re price. But if we break through 120000 or even the 150000 that everyone is talking about, I currently don't see any key players that can be leveraged. Speaking of interest rate cuts: 1. The market generally expects the Federal Reserve to start cutting interest rates in September 2025 2. JPMorgan Chase predicts June or July Firstly, June is unlikely, as the market predicts a probability of interest rate cuts of only over 20%, and even if there is another rate cut, the maximum would be 25 basis points. I think the probability of a rate cut in September is the highest. I checked the Federal Reserve's interest rate schedule again, and August is the interest rate gap period, which is very interesting. Whether it's a rate cut in July or September, the price of Bitcoin will react in advance. The current rise is partly due to the expectation of interest rate cuts. So regardless of whether it drops in July or September, October is a crucial milestone. The market will naturally reach its bottom after the first interest rate cut in the second phase is implemented, and then gradually open up a new market with the gradual entry of interest rate cuts. The above content is only my personal opinion. The mountain is high and the road is far. On the path of following Bitcoin, I hope everyone will not fall behind. Just do it!