Last night, the CPI has raised the probability of a rate cut in September to a high level again, and some Wall Street traders have begun to expect three rate cuts this year (I personally think it is a bit too much).

The certainty of the rate cut that everyone has been thinking about has come, but the US stock market opened higher and then fell, and the crypto market also rose and fell again at the beginning of the data release.

In the case of positive data, BTC has never been able to effectively break through and stabilize at 60,000, so it cannot change the downward trend at the daily level, and there is still a risk of decline, especially the current retracement to the weekly support of 57,700 has not been supported, indicating that the positive sentiment of the rate cut in September and even the second rate cut in December has basically been exhausted.

From this week to next week, the available bullish sentiment is cautious about ETH's ETF. The current ETF gossip is that it may be passed next Thursday, July 18, but the ETF has been fermenting for nearly half a month. If it is really passed next week, I am afraid that the bullish enthusiasm will be exhausted, just like the expectation of rate cuts.