On November 8, Bitcoin approached $76,000, setting new all-time highs just below $77,000 on Bitstamp amid significant leverage liquidity. This surge followed the U.S. Federal Reserve's decision to lower interest rates by 0.25%. In commentary, Fed chair Jerome Powell noted that while inflation is still elevated, economic activity remains solid. Market predictions suggest further interest rate cuts could be forthcoming, with consensus pointing to another 0.25% reduction at the next meeting in December. Despite these macroeconomic factors, Bitcoin's price continued to rise, showing an 8% increase for the month and nearly 20% for Q4. Analysts warned of potential corrections due to high leverage liquidity on exchange order books, with calls for traders to exercise caution and perhaps hold off on trades. The issue of a potential 'long squeeze'—a situation where many long positions are liquidated—was also highlighted, emphasizing the need to monitor key support levels to maintain positive market sentiment.

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