July data affects BTC trend: non-agricultural data on the 5th, CPI on the 11th.

The speculation about interest rate cuts often precedes the first real interest rate cut by 2-3 months. The two big drops in April and June this year were both triggered by negative macro data and lasted for a long time.

Therefore, if the July data is positive, the probability of interest rate cuts in September is high, and a wave of local market conditions can be expected in July and August. On the contrary, the good market is expected to be postponed for 2-3 months.

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