Do you think the current market is very strange? It feels like it will continue to fall, but it also gives you the idea of pulling up the market.
The current market is still very stable, and altcoins have seen new rises one after another.
Grayscale and other institutions have recently stopped selling, and the Bitcoin position is considered a volatile market, which is a positive signal for the upcoming ETF market. On the 23rd, everyone should pay close attention to this day.
Therefore, the selling pressure in Mentougou will be fully borne by the next ETF, and Bitcoin will gradually rise in the market after the market, and may return to US$70,000 to US$73,000.
With a large influx of funds, the selling pressure of US$9 billion can be fully digested.
There is no need to worry too much about this negative factor. Considering the recent emergence of various good news, the market should be rationally bullish, and everyone should just hold on to their own coins.
At the same time, be prepared for a callback, take one step at a time, and keep buying funds in batches.
The start of this bull market is likely to be a rate cut.
The time of the interest rate cut is the most concerned topic in the financial circle now. The market generally believes that it will be in September. Of course, there are different opinions. The International Monetary Fund (IMF) believes that the interest rate cut should be postponed to the end of the year.
They believe that before the rate cut, clear data is needed to show that inflation has returned to the 2% target.
The global economy is facing adjustments, and the current situation in the United States is not optimistic, especially Biden's support is not much, and perhaps Trump's inauguration is a foregone conclusion.
He is now in urgent need of winning the hearts and votes of the people by revitalizing the economy. Cutting interest rates is his only way to restore the economy, mainly because Trump said he does not want to cut interest rates before the election. This is Biden's opportunity.
Therefore, we can infer that the rate cut may come earlier than expected!
If you like spot, you can follow me!