Falling in June, bullish in July?
1. Powell will give a speech at 21:30 tonight. This is the first time Powell has made a public statement recently. Thursday is the Independence Day in the United States, and the U.S. stock market is closed. Wednesday is also closed for half a day due to the Independence Day. The non-farm employment and unemployment data for June will be released on Friday. I expect the non-farm data for June to be relatively low, which is good for the market
2. Regarding ETFs, on July 2, the U.S. spot Bitcoin ETF had a net inflow of US$129 million, of which FBTC had an inflow of US$65 million. BlackRock IBIT has had 0 transactions for nearly 10 trading days. At present, ETFs have had net inflows for 5 consecutive trading days, and the inflow of funds has a tendency to increase. The U.S. capital situation is gradually warming up
3. The research report stated that the net inflow of Ethereum spot ETFs in the first six months may reach US$5 billion, and the price of Ethereum will drive the market up. The European Cup will not end until July 15, when funds will flow back to the currency circle. In addition, as long as BTC falls in June, it will close positive in July. BTC fell by -7% in June this year, and there is a high probability that it will close positive in July.
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