Market Analysis 6.29
Good morning, brothers. Let's review yesterday's analysis conclusions:
"If Mentougou really pays, we must be prepared.
There is a probability of more than 70% falling below $60,000.
Now many people are recharging BTC to Binance.
When bad news comes, they will sell and run away. The selling pressure is large.
So we need to keep a lot of bullets and wait for the price to fall before buying the bottom."
After the PCE data was released yesterday, it was in line with expectations, showing that inflation is still high.
But it is lower than the previous value, a three-year low, which is a hope for the long term future.
Spot ETF funds are flowing out, mainly Grayscale and Fidelity have issued a lot of coins.
The on-chain data is not optimistic, or it is a continuation of the situation a few days ago:
Stablecoin outflows, the current stablecoins in the exchange have dropped to the low value of February (4 months ago)
That is to say, we have been speculating on coins for 4 months, and the market funds have not increased
BTC continues to flow into exchanges, mainly into Binance
Why is the market so weak? The core reason is still Mentougou
The currency circle will not be at peace until Mentougou is resolved
Rest more during this period and pay more attention to the fundamentals and dynamics of value coins
Save some bullets and wait for the Mentougou incident in July to fall before buying the bottom
Five poor, six desperate, seven turning over
