24/06/28 The first presidential debate is about to take place, the US dollar index is about to break through, and Asian currencies are falling across the board!
The first presidential debate began with an attack on the economy, with each candidate blaming the other for rising grocery and housing costs. Voters see the economy as one of the defining issues of the campaign. Trump won the first battle of the election.
VanEck announced the establishment of the Solana Trust ETF, which is also the first Solana ETF applied for in the United States. Yesterday, the Solana ecosystem saw a general rise, but the SEC called it a security in the lawsuit. The road ahead is long and difficult, so wait and see, and there is an expectation of hype.
On June 28, a proposed hybrid Bitcoin and gold exchange-traded fund (ETF) filed its prospectus on Thursday, aiming to allow traders and investors to invest in both Bitcoin and gold without having to buy either asset. It’s only a matter of time before this becomes a global phenomenon.
The strong dollar caused Asian currencies to fall across the board. On June 26, the US dollar index continued to rise and broke through the 106 mark. Asian currencies were under pressure across the board. The RMB fell below the 7.3 mark against the US dollar, hitting its lowest level since November 2023. The Japanese yen fell below the 160 mark against the US dollar, setting a new record low since 1986.
Flatbread
Last night, Bitcoin touched 62500 again and then fell back. This has become the first pressure point for a short-term rebound. A breakthrough will see 63600. It is still fluctuating in the 60600-62500 area. After breaking through the falling channel in 4 hours, it rebounded with the support of the lower channel. The daily line is still at the bottom of the box and also the lower edge of the triangle. In the short term, we still see a rebound. If the daily line breaks through the downward trend, we can add a second position.
Let me talk about the simplest logic of watching the market: if the high point fails to break through many times, it is bearish, and if the low point support is not broken, it is bullish. If the rebound cannot break through 65,000, it will continue to fall. If it can stand firm, there is a chance to continue to fluctuate in the box.
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ether
The Ethereum daily line reminded yesterday to recapture MA120 and MA60, and the descending triangle touched the second highest downward trend line. If it can effectively break through, you can add a second position. The technical side is not bad, and we expect to make up for the rise. Combined with the news on July 4, the ETF news opened up the gap.
The ETH/BTC exchange rate has broken through the downward channel, and the copycat season is coming, but we should also pay attention to polarization. Strong coins are rising higher and higher, and it is not difficult for many people to chase them. Weak coins do not move at the bottom and may even continue to fall. If you choose the wrong type, you may miss the entire bull market.
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