Analysis: Bitcoin is expected to retest $120,000, and the impact of the Fed's rate cut is still to be digested by the market. According to Golden Finance, Bitbank analysts pointed out that after the Fed's first rate cut in nine months, Bitcoin may digest the impact within a week and test the $120,000 mark. The CME FedWatch tool shows that 92% of traders expect the Fed to cut rates again by 25 basis points in October; 72% of users in the Myriad prediction market share the same view. Despite a bullish technical outlook, the options market shows that traders are mainly selling premiums and setting an upper limit on the rise between $125,000 and $150,000, rather than making aggressive directional bets.