There is nothing to talk about today, so let's just talk about the perfunctory content! Let's briefly talk about the memories of last night and roughly interpret Powell's speech.

Let's start with the speech. First of all, Powell has repeatedly emphasized that the current data will not support further interest rate hikes. At present, we don't need to consider too much. What we need to pay attention to is that the unemployment rate is a weather vane, and the core pec and cpi are enough.

Even if the CPI data in May declines, it is unlikely that interest rates will be adjusted in June and July. At present, it is good to be able to cut interest rates in September without an economic recession. So my previous prediction for September was still very optimistic for the first time, and it is really difficult for July.

Before September comes, no matter Powell's speech or CPI and PPI can only have a small impact until the interest rate cut in September. In other words, it is a wide range of fluctuations. As long as it does not fall below the support level of BTC (which can be compared with the price of miners), there will basically be no drastic changes. Everything will wait for the expected speculation in July and August.
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