Fed interest rate

At 2:00 a.m. Vietnam time yesterday, the FED announced its decision to maintain interest rates in the range of 5.25 - 5.5% (this is still the highest level in nearly 23 years). However, a special thing is that in the FED's document, they removed the words *"will continue to tighten if necessary"* as always. This shows that the FED may no longer intend to raise interest rates any further and will keep them unchanged until they decide to start cutting them.

During a hearing in the Delaware bankruptcy court, FTX lawyer Andrew Dietderich announced the cancellation of plans to revive the exchange. Instead, the exchange said it will focus on liquidating all existing assets to fully refund customers. Recently, FTX is also said to be the entity that sold 1 billion USD of GBTC shares (which were converted into Spot Bitcoin ETF).

It is true that the pressure to sell BTC has been somewhat absorbed and the momentum of BTC is gradually becoming more stable as mentioned in CIC's commentary at the beginning of the week. This week, we have seen BTC recover above $43,000. However, the buying force is still not strong enough for the price to reach the resistance area of 44,000 USD. It can be seen that the selling trend still seems to prevail, so it is likely that the price will continue to adjust to the $40,000 area in the coming days.

Still as CIC's previous assessment, the next adjustment phase may be a reasonable capital investment time for those who do not have goods or have few goods. The support zone of 39,000 - 40,000 USD and slightly lower, the 37,000 - 38,500 USD zone, are price zones worth considering for capital allocation depending on your position and investment strategy.