BitEagle🦅Precise Market Analysis 2024.9.5 @Everyone
Yesterday the market fell sharply, many people lost hope and wanted to sell their stocks
In the evening, they recovered their losses
This situation has happened repeatedly, I don’t know how many times
The job vacancy data released yesterday showed that the employment situation is not optimistic
The economy may be in recession, so it is conducive to interest rate cuts, which is good for the cryptocurrency circle
There are several important data today and tomorrow
- Tonight at 20:15, ADP employment figures will be released
- 20:30, unemployment benefits will be released
- Unemployment rate and non-farm data will be released at 20:30 tomorrow night
Beware of the three data, one of which is bearish, and another correction
If there is a correction, don’t sell, but remind to hold
Current bullish factors:
(1) Currently BTC computing power is at a low point, and miners are not making much money, indicating that the market is close to the bottom
(2) The last halving cycle started to soar in the fourth quarter. Will it start to rise in the fourth quarter this time?
(3) Long-term holders (wallets that have held Bitcoin for more than six months) continue to accumulate Bitcoin at record levels, with their total balance hitting a monthly high of 391,000 BTC this week
(4) Interest rate cuts and liquidity are imminent, and there will be more funds in the market
Current bearish factors:
(1) The last time more than 80,000 BTC was released in Mentougou, it continued to cause selling pressure, and there are still more than 30,000 BTC that have not been released
(2) The breakdown of Israeli-Palestinian peace talks and Iran's involvement have caused a wider range of conflicts
At present, we still need to wait for the selling pressure in Mentougou to be resolved, which will take time
The later the time, the higher the turnover and the smaller the selling pressure. If there is a positive news, BTC can achieve a breakthrough from the shock $SAGA $USDC $BTC #非农就业数据即将公布
