Recently, the daily trend of Bitcoin has shown a volatile trend. It has fluctuated above 58 for many consecutive days, and there is no obvious sign of a rise at the top. The oscillation range is gradually narrowing, and it is expected that the direction will be clear soon.
In addition, the speech of Federal Reserve Chairman Powell last night pointed out that the recent employment data reflects that the economy is gradually cooling down, and the labor market may have returned to a balanced state. According to market forecasts, the probability of a 25 basis point interest rate cut in September is 71.8%. However, the specific time of the interest rate cut is still uncertain and needs further observation.
It is worth noting that the release of CPI data on Thursday this week may cause large market fluctuations. We should pay more attention to it~
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