According to the Bitfinex Alpha report analysis, since the Federal Reserve's decision to cut interest rates, Bitcoin has been on the rise, rising more than 22% on September 20 (last Friday), hitting a local high of $64,200 and the highest since September 6. Despite Bitcoin's strong rally, it is still slightly below the key high of $65,200 on August 25. BTC has been on a downward trend since March, and despite recent positive price gains, worryingly, the gains in BTC's unpositioned squaring contracts have outpaced the price gains in BTC itself, suggesting that most of last week's gains may have been driven by the futures and perpetual markets rather than the cash market. At the same time, some counterfeit products coins have surged in price, with some well-known tokens up more than 100% from their August and September lows. However, similar caution is needed here, as counterfeit products coin OI has also hit new highs, while the broader underlying counterfeit products coin market has not seen a corresponding price breakout. Other indices (which measure the performance of counterfeit products coins excluding the top 10 tokens by market cap) have continued their downward trend over the past month. As the bitcoin cash market purchases slow, as evidenced by the plateau in spot cumulative volume increments as prices reach $63,500, BTC is expected to move within range in the short term. Without continued spot purchases, a consolidation or partial pullback seems the most likely scenario.