Hey, big news is coming!
Hey, big news is coming!
Just in the middle of the night, the latest data just came out exceeded expectations, so will Bitcoin's trend tomorrow be stable? The United States just announced that the number of people who applied for unemployment benefits for the first time in the week of May 25 was 219,000, which was originally expected to be 218,000, more than the previous 215,000, which is a good thing! Many people may not understand why the number of unemployment benefits exceeding expectations is still a good thing? This is because the number of unemployed people exceeds expectations, which means that the US economy may be slowing down, so the possibility of the Federal Reserve cutting interest rates is greater, and the interest rate cut is definitely a super big positive for cryptocurrencies such as Bitcoin.
In addition, there is another news tonight, that is, BlackRock's Bitcoin spot ETF has become the fastest ETF to reach $20 billion. Bitcoin has shocked Wall Street. It can be said that Bitcoin is becoming more and more popular with those large institutional funds. If the June spot Ethereum ETF can also pass, then just think about how bullish this bull market will be!
There will be another important data tomorrow night, which is the US core PCE for April. It can reflect whether inflation has been suppressed better than CPI data. If it is higher than expected, it is bad news, and if it is lower than expected, it is a big positive.
Let's talk about the situation of Bitcoin. With all kinds of good news and bad news, it is obvious that Bitcoin is waiting for a direction now. It has been hovering around 68,000 for 3 consecutive days. From a technical point of view, the 1-hour and 4-hour charts are still in a long arrangement. The bulls are still very powerful. If there is good news to stimulate it, it will definitely be no problem to stand on 70,000 US dollars.
Well, it's not easy to write these, so please follow me and take you to surpass others with knowledge. I will analyze and share the hot news and emergencies every day. I may not be the most professional, but I am definitely the most practical!
