When the price of Bitcoin fell below $60,000, the panic index dropped to 30 and finally stabilized at $58,378.

In the case of a continued bull market, the bottom price will usually be gradually raised.

Therefore, $58,378 can be used as an important observation indicator.

As long as the price does not fall below this level, the logic of the continued rise of the bull market and the continuous rise of the bottom will be established.

Although this time may be different from previous cycles, exchanges; BNB9978 But it has been more than three months since the adjustment of the big cake, from the perspective of time, chip collection and decline, it should be enough. In the absence of a black swan event, it is highly unlikely to fall below $58,378 again.

Regarding the Ethereum spot ETF market, it is expected to be approved and officially launched on July 4.

Sun Ge has recently increased his holdings significantly. Last night, the chairman of the SEC said that everything is going well and it is expected that about $2.8 billion of funds will flow in after it is passed.

Before the ETF is launched, the exchange rate of Ethereum to Bitcoin may remain strong.

On the Fed side, Cook said inflation will continue to fall and expects the cooling to accelerate next year, so it will be appropriate to cut interest rates at some point.

The market generally expects the next round of gains to be close to the Fed's rate cut cycle.

Currently, about $7 trillion of funds are locked in the banking system with interest rates as high as 5.5%.

Once the Fed starts to cut interest rates, a large amount of funds may flow out of the banking system and enter the market for purchases, which is also one of the logics of the bull market.

In a bull market, it is normal for prices to rise and fall, so the current strategy is to wait for the market direction.

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