10x Research: The current decline is a typical pullback after the bull market was overbought, we still have a positive outlook on Q4 market performance

News on September 30, Bitcoin today once fell from above $65,000 to a low of around $62,200. According to a report by 10x Research, this decline seems to be a typical bull market correction after an overbought situation. Markus Thielen also expressed his optimism for Q4. The optimistic sentiment for the fourth quarter mainly stems from expectations that the Federal Reserve will cut interest rates by another 50 basis points and China's recently announced large-scale stimulus measures. The market may understand the Federal Reserve's action plan later today because Fed Chairman Powell plans to speak on economic issues at the annual meeting of the National Association for Business Economics in Tennessee (at 1 am tomorrow morning).