It's not peaceful tonight! The US "small non-farm" data in May was lower than expected. Will there be two interest rate cuts this year? Binance Coin broke through the historical high. Is the "copycat season" coming?
Maybe tonight, the United States announced the "small non-farm" data, which was lower than Wall Street's expectations. The ADP increase in May was 152,000, a three-month low. The labor market cooled further, increasing the signs of slow economic growth in the United States, and it has always brought higher possibilities for interest rate cuts in the second half of the year.
Some economists even predicted that the Federal Reserve may keep interest rates unchanged next week, and will cut interest rates twice starting in September! Because more and more data show that the economy is cooling down, Canada and the European Central Bank also began to cut interest rates today. Once the United States starts to cut interest rates, risky assets will benefit first. From the performance of US stocks, it can be seen that technology stocks led by Nvidia continue to be strong and break through the previous high. Bitcoin will also benefit. In the next two or three months, it may stand on the integer mark of 100,000 US dollars!
In addition to Bitcoin, Binance's platform coin has performed very well in recent days. It rose by $100 in two days and hit $710, setting a new historical high. The market value exceeded $100 billion, surpassing Starbucks and Meituan!
Other altcoins are also rising sharply, including $CKB 25%+ for Bitcoin Ecosystem and $CAKE 19%+ for BSC Chain. So, is the altcoin season really coming?
I personally think it is too early to judge now. According to the previous bull market, Bitcoin will rise, followed by Ethereum, and then the altcoins of various sectors will rotate. At this stage, the Federal Reserve has not cut interest rates, more funds have not poured into the currency circle, and Ethereum's spot ETF has not been approved. The big rise has obviously not come, so the current rise of altcoins is more short-term and event-stimulating, which is not enough to constitute a long period of sustained market.
The current market is a pattern of oscillation and upward, and what is needed is to remain patient and not be arrogant or impatient. At this time, it is easiest to see how many times someone has earned from the contract, and the amount of funds has reached several digits. It is not ruled out that there may be true, but don't forget the survivor bias. What we need to do is to get rich steadily and make enough income to sleep well!
Well, I have been writing articles for more than a month. It is not easy to be original. A follow and like is the greatest support for me!
