#Fedratecutexpectationsheatup

Bitcoin (BTC) reached new record values on Monday, marking an important milestone. However, after that, the coin has mostly been moving in a sideways trend, reflecting traders' indecision.
Many market participants expect that the price may drop below $120 000, and on-chain indicators suggest a possible short-term decline.
The recent sideways trend of BTC is accompanied by a weakening momentum. According to Glassnode, the accumulation ratio of coin holders has been decreasing since Monday and continues to fall.
At the time of publication, the rate is 54.42%, down 2% over the last four days. When the price falls, as it has in recent days, it means that more holders are selling or moving their coins rather than accumulating them.
Meanwhile, the Liveliness BTC indicator began to rise from Monday. By October eighth, it reached 0.6298.
The increase in the indicator suggests that long-term holders are selling their coins. This signals the need for caution and may indicate a trend of profit-taking, which threatens to lower the price of BTC.
Without renewed interest in buying BTC, it risks falling to $120 000. A break of support at the level of $120 090 threatens to lead to further decline to $118 922.
If new buyers enter the market and demand increases, the cryptocurrency will have a chance to solidify above current levels and possibly return to its historical maximum.