Bitcoin is showing initial signs of recovery after a 30% pullback, as the Federal Reserve's dovish comments have increased the likelihood of a December rate cut to 75%. This shift in expectations may be influencing market liquidity. Derivatives data indicates that investors remain optimistic about Bitcoin's upward potential, with open interest in year-end call options surpassing put options, particularly in the $85,000 to $200,000 range. Additionally, negative funding rates suggest that leveraged long positions have been cleared, reducing short-term downside risks. The upcoming market direction may hinge on U.S. retail data, core PCE figures, and ETF fund flows.