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๐ฅ NASDAQ FUTURES EXTEND DECLINES, NOW DOWN 5.1%
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U.S. ECONOMY SEEN AS RESILIENT, NO RECESSION IN SIGHT ๐ธ While the August jobs report was below expectations, Torsten Slok from Apollo believes the U.S. economy is far from recession. Hereโs why: ๐ Unemployment is falling, and wage growth is accelerating, both positive signs of economic strength. ๐ณ Consumer spending remains robust: Debit card transactions and retail sales show people are still spending steadily. ๐ Low default rates and stable jobless claims indicate financial stability across households and businesses. ๐ฌ Soft Landing: Slok suggests the economy is managing a controlled slowdown, avoiding a recession despite earlier fears. ๐ Do you agree with this outlook? Share your thoughts below!
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๐จ Massive Short Liquidation on Bybit: 2,000 BTC Wiped Out! ๐จ Retail traders just got caught in a huge short squeeze as 2,000 BTC in short positions were liquidated on Bybit. With many expecting a price drop, the market had other plans. Hereโs what happened: ๐ก Retail Traders Were Massively Short: A large number of retail traders bet against Bitcoin, hoping for a price decline. ๐ 2,000 BTC Shorts Liquidated: These positions were forcibly closed, driving BTC's price upwards as traders scrambled to cover losses. โก Possible Ripple Effect: Liquidations like this often fuel further price increases, creating a feedback loop of upward momentum. ๐ Whatโs next for BTC? Drop your thoughts in the comments and share if this helped!
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MATIC/USDT Multi-Timeframe Analysis
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โ ๏ธ Key Interest Rate Cut Probability Could Shape Crypto Markets Based on the CME's FedWatch Tool, thereโs a 70% chance the Federal Reserve will cut its target rate by 25 basis points at its September 18, 2024 meeting, lowering the rate to 500-525 bps. This expected cut from the current 525-550 bps range has significant implications for both traditional and crypto markets. Hereโs what to keep in mind: Monetary Easing Fuels Crypto: Rate cuts tend to boost risk-on assets like cryptocurrencies, as lower interest rates reduce the appeal of fixed-income investments. More liquidity flowing into higher-yield assets can push Bitcoin and altcoins higher. Weaker USD: A potential rate cut typically weakens the US dollar, which often drives investors toward alternative stores of value like Bitcoin (BTC) and Ethereum (ETH), potentially boosting demand for crypto as a hedge. Short-Term Volatility: While the probability leans toward a cut, any surprise Fed decision to keep rates unchanged or raise them could trigger volatility. Be prepared for sharp moves in either direction depending on how markets react to new data. As September approaches, keep an eye on how market sentiment shifts, and consider adjusting your strategy based on macroeconomic trends. Found this useful? Share your thoughts or tips on how you plan to adjust your crypto strategy!
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๐จ SOL Price Action Update: Testing Key Resistance Levels! ๐จ Solana (SOL) is currently trading below a significant resistance zone, and its next moves could dictate short-term market direction: ๐ซ New Resistance at $130: With SOL currently below this level, $130 is now a key barrier that needs to be broken for any potential upside. Failing to breach this could lead to further downward pressure. ๐ฃ Major Resistance Zone at $132.5 - $134: This region has consistently rejected upward moves, adding extra pressure on buyers to break through. ๐ Support at $121.19: This monthly volume-weighted area (2mVAL) is acting as a key support, helping prevent a deeper drop. ๐ RSI at 46.25: Neutral momentum is indicating indecision, but leaning slightly bearish. A move above 50 could hint at a bullish reversal, while a drop below 40 may confirm further downside. ๐ Key Insight: For SOL to regain momentum, it must first break above $130, and ultimately challenge the $134 resistance zone. Watch for a bounce off $121.19 if selling continues. ๐ Whatโs your next move? Drop your thoughts in the comments below!
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