#美国6月非农数据高于预期 #美联储何时降息？ #BTC走势分析 6 key market indicators show that Bitcoin bulls may still have the upper hand

Despite the volatility of BTC prices and the five-month low, several key indicators show that bulls may still have the upper hand, including: 1. The market correction is mainly due to concerns about market sell-offs due to the continued repayment of more than 140,000 BTC to its customers and the German government's BTC liquidation. Although prices continue to fall, selling pressure is weakening. In technical analysis, this situation usually indicates that the current downward trend may reverse or slow down;

2. Two classic technical indicators support the bullish reversal scenario, the hammer line is bullish, and the oversold RSI. Bitcoin BTC formed a bullish hammer line pattern on July 5. In addition, the daily RSI The reading hovered around the oversold threshold of 30, which usually indicates a period of consolidation or recovery;

3. Wall Street is betting on an increased probability of a rate cut in September. According to CME data, as of July 7, Wall Street traders believed that the probability of a 25 basis point rate cut by the Federal Reserve was 72%. A month ago, the probability was 46.60%;

4. Bitcoin ETF investors returned after the July decline. After two consecutive days of capital outflows, the capital inflow of US spot Bitcoin ETFs resumed. ;

5. The US money supply expanded again;

6. Bitcoin miners surrendered, suggesting that BTC prices have bottomed out.