Non-farm data analysis
The US unemployment rate in July was 4.3%, the highest since October 2021, which is good for BTC.
The US non-farm payrolls in July were 114,000, lower than the expected 175,000, which is good for BTC.
There are more unemployed people and the economy is declining, so the Fed will cut interest rates earlier.
It is conducive to a rate cut in September.
BTC has been hit down after three consecutive spikes. Why?
The positive impact of the rate cut cannot stop the two short-term negatives:
(1) The big conflict between Israel and Iran
(2) Mentougou release
So we said this morning
(1) For BTC to really rebound, we have to wait until Iran takes action
(2) Let's see if Mentougou will take action next week. If so, it will make things worse
Don't rush to buy the bottom, wait a week.
