2024.6.11 Macro Analysis
BTC fell slightly, but the decline of altcoins including BNB exceeded 10%. BNB fell below $620, which is unusual. BNB was relatively strong before, and the correction this time was a bit large.
On-chain data shows that stablecoins have been flowing out of exchanges in the past two days. After the opening of yesterday's ETF, there was not much inflow of funds. Some of them were 0, and some have not yet released data. The current total outflow is $32 million.
This week, we will focus on three major events
(1) Tomorrow night at 8:30, CPI data will be released. If it is lower than expected, it will be positive. Otherwise, it will be positive.
(2) Tomorrow night at 2:00 am, the Federal Reserve will release the interest rate decision and economic outlook summary (FOMC meeting)
(3) Tomorrow night at around 2:30 am, Federal Reserve Chairman Powell will deliver a speech
The June FOMC meeting will be one of the most critical meetings this year, because Powell will give the clearest hint yet on the timetable for rate cuts. Although the non-farm data exceeded the target, the previous data showed an economic recession, and Powell's speech should be dovish. So it depends on CPI to determine whether BTC has the last drop. (Strategy Jianjie)
Before the data is released tomorrow night, reduce your position to a part today. Don't be afraid to reduce your position, because you can buy it back at any time after selling it. As long as the price drops by 1%, you can get more coins when you buy it back. Whether it is spot or contract, it is similar.
If CPI is favorable, buy it again, the difference will not be more than a few points.
The current currency circle should lower expectations and seek stability. The secondary market is not easy to invest. ZK and Blast are about to issue coins. In the near future, you can pay attention to the meme coins on the new public chain.
