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Market sentiment is picking up! Assets are recovering! The cottage industry is starting to rotate! Thank you to those who have kept you firm along the way! However, a full reversal will take some time! Pay attention to reducing your position when you make a profit!
Hot topics:
1. Bitcoin ETF has strong net inflow of funds, while Ethereum has a small outflow, which shows that Bitcoin is positively favored by the market and is expected to maintain high volatility. Altcoins may have good opportunities.
2. The US economic data is positive, PCE prices are stable, and the unemployment rate is lower than expected, which has enhanced market confidence, increased expectations for interest rate cuts, and improved fundamentals.
3. Driven by favorable policies, China's stock market stopped falling and rebounded, stabilizing at 3,000 points. Market sentiment is optimistic and it is expected that monetary policy will be relaxed, supporting the stock market to rise.
Summary: The external environment is positive, and cryptocurrencies such as Bitcoin and the stock market are showing good momentum. However, it should be noted that it will take some time for Bitcoin to fully reverse. It is recommended to operate with a rebound mentality, while maintaining patience and enthusiasm to welcome the start of the bull market.
1. Bitcoin ETF has strong net inflow of funds, while Ethereum has a small outflow, which shows that Bitcoin is positively favored by the market and is expected to maintain high volatility. Altcoins may have good opportunities.
2. The US economic data is positive, PCE prices are stable, and the unemployment rate is lower than expected, which has enhanced market confidence, increased expectations for interest rate cuts, and improved fundamentals.
3. Driven by favorable policies, China's stock market stopped falling and rebounded, stabilizing at 3,000 points. Market sentiment is optimistic and it is expected that monetary policy will be relaxed, supporting the stock market to rise.
Summary: The external environment is positive, and cryptocurrencies such as Bitcoin and the stock market are showing good momentum. However, it should be noted that it will take some time for Bitcoin to fully reverse. It is recommended to operate with a rebound mentality, while maintaining patience and enthusiasm to welcome the start of the bull market.
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Open your eyes and you will get 65,000! Many investors who were washed out in the third quarter slapped their thighs! If I tell you that there is still a chance, will you stay in the car?
Yellen's speech last night still revealed two important signals:
1. The US economy is stable and has hope for a soft landing: Yellen told everyone that the current economic situation in the US is quite good, a bit like sliding down a slide slowly, but not falling directly to the ground. She believes that as long as we are careful, the US economy may have a stable "soft landing", that is, slowly slowing down, but there will be no sudden problems.
2. The labor market needs to be protected, and interest rate cuts may still be needed: Let's talk about jobs. Yellen said that it is relatively easy for people to find jobs now, and the market is quite stable. However, this stability is also a bit fragile, like a castle built with a pile of small stones, which may fall apart if you are not careful. Therefore, she hopes that the Federal Reserve can continue to help and protect this "castle" by cutting interest rates, so that everyone's jobs are stable and they will not lose their jobs suddenly.
1. The US economy is stable and has hope for a soft landing: Yellen told everyone that the current economic situation in the US is quite good, a bit like sliding down a slide slowly, but not falling directly to the ground. She believes that as long as we are careful, the US economy may have a stable "soft landing", that is, slowly slowing down, but there will be no sudden problems.
2. The labor market needs to be protected, and interest rate cuts may still be needed: Let's talk about jobs. Yellen said that it is relatively easy for people to find jobs now, and the market is quite stable. However, this stability is also a bit fragile, like a castle built with a pile of small stones, which may fall apart if you are not careful. Therefore, she hopes that the Federal Reserve can continue to help and protect this "castle" by cutting interest rates, so that everyone's jobs are stable and they will not lose their jobs suddenly.
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The upcoming period of frequent macroeconomic data and news will increase volatility! After the second round of inducement, is the purpose to hunt downward?
Starting tonight, the SEC will launch a new round of intensive speeches, including the final report on second quarter GDP and other data. After the sluggishness of the past two days, the market is expected to begin to fluctuate with larger amplitude.
When the crypto market needs to be calm, you must maintain sufficient strategic focus. The biggest problem in the market this year is the lack of liquidity. If you frequently operate when liquidity is insufficient, you will become the liquidity of the market.
BTC
Second inducement to buy! After rising, it fell below 64200 again and returned to the range, and at the same time fell below the middle track of the range given yesterday, 63370-63000. If the current price rebound cannot stand above 63550, there is a probability that it will hunt for the lower range of 62100-61800! Pay attention to this position during the day!
When the crypto market needs to be calm, you must maintain sufficient strategic focus. The biggest problem in the market this year is the lack of liquidity. If you frequently operate when liquidity is insufficient, you will become the liquidity of the market.
BTC
Second inducement to buy! After rising, it fell below 64200 again and returned to the range, and at the same time fell below the middle track of the range given yesterday, 63370-63000. If the current price rebound cannot stand above 63550, there is a probability that it will hunt for the lower range of 62100-61800! Pay attention to this position during the day!
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The market crashed at 10 pm last night, and then it was able to pull up overnight! Can 65,000 be broken this time?
Hot News:
1. The decline in Bitcoin’s market share and the structural bullishness of the altcoin market have prompted traders to predict that the “altcoin season” is coming.
2. The offshore RMB exchange rate against the US dollar regained the 7.0 mark.
3. Reuters/Ipsos poll: Harris widens her lead over Trump.
4. Bank of New York Mellon is advancing crypto ETF custody services.
5. The US SEC postpones its decision on BlackRock’s application for Ethereum spot ETF options trading.
6. ECB board member Knot believes that the interest rate cuts will continue until the first half of 2025.
7. Mitchnick, head of BlackRock Group's cryptocurrency business, said: Bitcoin has become a "safe-haven asset."
1. The decline in Bitcoin’s market share and the structural bullishness of the altcoin market have prompted traders to predict that the “altcoin season” is coming.
2. The offshore RMB exchange rate against the US dollar regained the 7.0 mark.
3. Reuters/Ipsos poll: Harris widens her lead over Trump.
4. Bank of New York Mellon is advancing crypto ETF custody services.
5. The US SEC postpones its decision on BlackRock’s application for Ethereum spot ETF options trading.
6. ECB board member Knot believes that the interest rate cuts will continue until the first half of 2025.
7. Mitchnick, head of BlackRock Group's cryptocurrency business, said: Bitcoin has become a "safe-haven asset."
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The market followed yesterday's No. 2 scenario. How will it play out today?
Hot News:
1. Ethereum outperformed Bitcoin after the Fed cut interest rates, and market sentiment became bullish.
2. The total trading volume of BlackRock and Fidelity's spot Bitcoin ETFs exceeded US$700 million yesterday.
3. CME "Fed Watch": The probability of the Federal Reserve cutting interest rates by 25 basis points in November is 45.2%.
4. BlackRock verifies Bitcoin holdings through blockchain nodes to ensure the security of ETF assets.
5. Bitfinex report: As buying in the Bitcoin spot market slows down, it is expected to fluctuate in a range in the short term.
6. Bernstein analysts: Any signal of loose monetary policy and potential weakening of the US dollar are good for Bitcoin.
1. Ethereum outperformed Bitcoin after the Fed cut interest rates, and market sentiment became bullish.
2. The total trading volume of BlackRock and Fidelity's spot Bitcoin ETFs exceeded US$700 million yesterday.
3. CME "Fed Watch": The probability of the Federal Reserve cutting interest rates by 25 basis points in November is 45.2%.
4. BlackRock verifies Bitcoin holdings through blockchain nodes to ensure the security of ETF assets.
5. Bitfinex report: As buying in the Bitcoin spot market slows down, it is expected to fluctuate in a range in the short term.
6. Bernstein analysts: Any signal of loose monetary policy and potential weakening of the US dollar are good for Bitcoin.
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Bitcoin has reached 64500-65000 as expected! Is it a lure or a real breakthrough? Focus on the intraday response strategy!
Hot News:
1. Harris made his first comments on cryptocurrencies and pledged to support the space.
2. Since adopting the Bitcoin strategy, MicroStrategy has outperformed 100% of S&P 500 companies.
3. Trump said that if he loses the 2024 US presidential election, he will not run again.
4. Peter Brandt: The exchange rate of Bitcoin against gold may rise by more than 400% next year.
5. Data: Last week, the US spot Bitcoin ETF purchased 6,573 BTC, while miners only produced 3,150 BTC.
6. MicroStrategy founder: If you understand Bitcoin, you want to get as much of it as possible.
1. Harris made his first comments on cryptocurrencies and pledged to support the space.
2. Since adopting the Bitcoin strategy, MicroStrategy has outperformed 100% of S&P 500 companies.
3. Trump said that if he loses the 2024 US presidential election, he will not run again.
4. Peter Brandt: The exchange rate of Bitcoin against gold may rise by more than 400% next year.
5. Data: Last week, the US spot Bitcoin ETF purchased 6,573 BTC, while miners only produced 3,150 BTC.
6. MicroStrategy founder: If you understand Bitcoin, you want to get as much of it as possible.
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Ethereum is reborn? Is this just a false alarm? Or is it really getting stronger?
Hot News:
1. Intotheblock data: Bitcoin's market share has increased by 6% so far this year.
2. USDC circulation increased by approximately US$200 million in the past week, and the total circulation rose to US$35.5 billion.
3. Harris raised four times as much donations as Trump in the final election sprint.
4. Binance founder Zhao Changpeng confirmed that he will be released from prison soon.
5. The market value of USDT reached 119.186 billion US dollars, a record high.
6. L2BEAT data shows that Ethereum L2 TVL has rebounded to US$36.08 billion, a seven-day increase of 3.20%.
7. Larry Fink, founder of BlackRock Group: I firmly believe that Bitcoin has a place in the investment portfolio.
1. Intotheblock data: Bitcoin's market share has increased by 6% so far this year.
2. USDC circulation increased by approximately US$200 million in the past week, and the total circulation rose to US$35.5 billion.
3. Harris raised four times as much donations as Trump in the final election sprint.
4. Binance founder Zhao Changpeng confirmed that he will be released from prison soon.
5. The market value of USDT reached 119.186 billion US dollars, a record high.
6. L2BEAT data shows that Ethereum L2 TVL has rebounded to US$36.08 billion, a seven-day increase of 3.20%.
7. Larry Fink, founder of BlackRock Group: I firmly believe that Bitcoin has a place in the investment portfolio.
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The market has started to fluctuate at a high level, and what will happen next is the plot of inducing more buying and keeping short positions?
Hot News:
1. The ETH/BTC exchange rate rebounded above 0.04, with a 24-hour increase of 4.02%.
2. Jasper De Maere: If the bull market continues, speculation and DeFi will drive Ethereum network activity.
3. U.S. short-term interest rate futures rose, reflecting increased bets on further rate cuts by the Federal Reserve.
4. Standard Chartered Bank executive: Bitcoin price may reach US$200,000 by the end of 2025.
5. The US SEC approved BlackRock’s Bitcoin spot ETF options trading.
BTC
The idea remains the same. For short selling, consider the 64500-65000 area, and pay attention to the 62100-61800 buying opportunities! This position cannot be broken, otherwise it means that the current round of rise has been paused!
1. The ETH/BTC exchange rate rebounded above 0.04, with a 24-hour increase of 4.02%.
2. Jasper De Maere: If the bull market continues, speculation and DeFi will drive Ethereum network activity.
3. U.S. short-term interest rate futures rose, reflecting increased bets on further rate cuts by the Federal Reserve.
4. Standard Chartered Bank executive: Bitcoin price may reach US$200,000 by the end of 2025.
5. The US SEC approved BlackRock’s Bitcoin spot ETF options trading.
BTC
The idea remains the same. For short selling, consider the 64500-65000 area, and pay attention to the 62100-61800 buying opportunities! This position cannot be broken, otherwise it means that the current round of rise has been paused!
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A series of questions about the Fed's interest rate cut? And current market analysis!
Question 1: Does the US interest rate cut mean surrender and failure of the financial war?
A: No. Many people mistakenly believe that the Fed's rate cut is a "surrender" to China, but in fact, the Fed's decision is more based on its own economic situation, such as inflation and employment rate. The rate cut is not necessarily aimed at a certain country, but is a means of economic regulation. Just like we don't think Australia is fighting a "battery war" just because electric vehicle lithium battery raw materials rely on Australia.
Question 2: Why did the Fed directly cut the interest rate by 50 basis points instead of 25 basis points?
A: No. Many people mistakenly believe that the Fed's rate cut is a "surrender" to China, but in fact, the Fed's decision is more based on its own economic situation, such as inflation and employment rate. The rate cut is not necessarily aimed at a certain country, but is a means of economic regulation. Just like we don't think Australia is fighting a "battery war" just because electric vehicle lithium battery raw materials rely on Australia.
Question 2: Why did the Fed directly cut the interest rate by 50 basis points instead of 25 basis points?
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The far-reaching impact of the Fed’s interest rate cut on the crypto market! If you understand this, you will become rich in the future!
1. The impact of the Fed’s interest rate cut on the crypto market
The Fed's interest rate cuts usually mean lower funding costs and increased liquidity in the market, which prompts investors to seek higher-yield investment channels. Cryptocurrency is often one of the choices due to its high-risk and high-return characteristics. In 2020, in the face of the economic impact of the epidemic, the Fed quickly cut interest rates to a historic low, which greatly promoted the rapid growth and bull market of the crypto market.
2. Comparison between 2020 and the current rate cut cycle
Different inflation backdrop:
The interest rate cut in 2020 was mainly to respond to the economic recession caused by the epidemic, and inflation was not a core consideration.
The Fed's interest rate cuts usually mean lower funding costs and increased liquidity in the market, which prompts investors to seek higher-yield investment channels. Cryptocurrency is often one of the choices due to its high-risk and high-return characteristics. In 2020, in the face of the economic impact of the epidemic, the Fed quickly cut interest rates to a historic low, which greatly promoted the rapid growth and bull market of the crypto market.
2. Comparison between 2020 and the current rate cut cycle
Different inflation backdrop:
The interest rate cut in 2020 was mainly to respond to the economic recession caused by the epidemic, and inflation was not a core consideration.
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Before the interest rate cut... please don't follow the tide! Believe in the charm of cycles! The market will eventually reward long-termism!
The market generally believes that the Fed may choose to cut interest rates significantly. The probability of a 50 basis point rate cut has reached 65%, while the probability of a moderate 25 basis point rate cut has dropped to 35%. This sign shows that the market is relatively pessimistic about the economic outlook. Market sentiment has reversed again!
However, this is not necessarily bad news. Although a sharp interest rate cut suggests that the economy may face a recession, the market seems to be more concerned about the expansion of liquidity brought about by the interest rate cut, and this liquidity expansion may have a positive impact on the prices of assets such as Bitcoin. Therefore, even if the interest rate cut is large, it may not necessarily bring negative results, but may instead drive up asset prices.
However, this is not necessarily bad news. Although a sharp interest rate cut suggests that the economy may face a recession, the market seems to be more concerned about the expansion of liquidity brought about by the interest rate cut, and this liquidity expansion may have a positive impact on the prices of assets such as Bitcoin. Therefore, even if the interest rate cut is large, it may not necessarily bring negative results, but may instead drive up asset prices.
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Mid-Autumn Festival makes people miss their families! The current market is very tough! If you don’t agree, go and celebrate the festival!
Hot News:
1. CME Federal Reserve Observation: The probability of the Federal Reserve cutting interest rates by 50 basis points this week is higher than 25 basis points.
2. MicroStrategy will issue $700 million in convertible bonds to repay debts and purchase Bitcoin;
3. Tether’s dollar-denominated stablecoins already control two-thirds of the market, with a 20% increase in market share over the past two years;
4. Zhao Changpeng will be released on September 29th.
Regarding the Fed's interest rate cut, it has now entered "silent mode", just like the teacher does not reveal the questions before the exam. We have to wait until the 19th to get the exact news. Of course, some people also speculate, such as whether Nick will give some clues in advance.
1. CME Federal Reserve Observation: The probability of the Federal Reserve cutting interest rates by 50 basis points this week is higher than 25 basis points.
2. MicroStrategy will issue $700 million in convertible bonds to repay debts and purchase Bitcoin;
3. Tether’s dollar-denominated stablecoins already control two-thirds of the market, with a 20% increase in market share over the past two years;
4. Zhao Changpeng will be released on September 29th.
Regarding the Fed's interest rate cut, it has now entered "silent mode", just like the teacher does not reveal the questions before the exam. We have to wait until the 19th to get the exact news. Of course, some people also speculate, such as whether Nick will give some clues in advance.
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A good start to the week! Can't wait for each share to open! Expected to form a range of fluctuations before Thursday! Sell high and buy low for a few days!
This week’s highlights:
At 2:00 on Thursday, the Federal Reserve will announce its interest rate decision and a summary of economic expectations;
At 2:30 on Thursday, Federal Reserve Chairman Powell held a monetary policy press conference;
At this meeting, it is very likely that the Federal Reserve will cut interest rates for the first time after maintaining high interest rates for a long time. Currently, the probability of raising interest rates by 25 basis points and 50 basis points is expected to be almost the same, so such news is more suitable for the main force to clear high leverage back and forth!
1. A shooting occurred near Trump's golf course. It was reported that the gunman was armed with an AK-47.
2. Trump faced two apparent assassination attempts, and lawmakers from both parties urged him to strengthen his security protection.
At 2:00 on Thursday, the Federal Reserve will announce its interest rate decision and a summary of economic expectations;
At 2:30 on Thursday, Federal Reserve Chairman Powell held a monetary policy press conference;
At this meeting, it is very likely that the Federal Reserve will cut interest rates for the first time after maintaining high interest rates for a long time. Currently, the probability of raising interest rates by 25 basis points and 50 basis points is expected to be almost the same, so such news is more suitable for the main force to clear high leverage back and forth!
1. A shooting occurred near Trump's golf course. It was reported that the gunman was armed with an AK-47.
2. Trump faced two apparent assassination attempts, and lawmakers from both parties urged him to strengthen his security protection.
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The plot of 3 consecutive days has ended accurately! Will it continue to squeeze upwards? Or hunt downwards? Next week will usher in a critical time point!
Hot News:
1. Hyblock Capital: The deep exhaustion of the Bitcoin market may indicate a bullish trend in Bitcoin prices.
2. Ethereum maintains a 35% share of the DEX market, while competitors such as Solana are catching up quickly.
3. The total market value of stablecoins returned to above US$170 billion, and the market value of USDT exceeded US$118.6 billion.
4. Outlook for next week: The Federal Reserve leads the “Super Central Bank Week” and Powell holds a monetary policy press conference.
6. The U.S. spot Bitcoin ETF purchased 6,892 BTC this week, exceeding the production of miners.
7. 10.6 million bitcoins have not been transferred in more than two years.
8. CoinMarketCap data: The number of new Bitcoin addresses is approaching a critical level of 330,000, and the bull market prospects have attracted market attention.
1. Hyblock Capital: The deep exhaustion of the Bitcoin market may indicate a bullish trend in Bitcoin prices.
2. Ethereum maintains a 35% share of the DEX market, while competitors such as Solana are catching up quickly.
3. The total market value of stablecoins returned to above US$170 billion, and the market value of USDT exceeded US$118.6 billion.
4. Outlook for next week: The Federal Reserve leads the “Super Central Bank Week” and Powell holds a monetary policy press conference.
6. The U.S. spot Bitcoin ETF purchased 6,892 BTC this week, exceeding the production of miners.
7. 10.6 million bitcoins have not been transferred in more than two years.
8. CoinMarketCap data: The number of new Bitcoin addresses is approaching a critical level of 330,000, and the bull market prospects have attracted market attention.
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Opportunities come by waiting! Congratulations to those who keep up with the daily news!
Hot News:
1. CryptoQuant: More than 92% of Bitcoin exchange inflows come from short-term holders.
2. If Bitcoin breaks through $61,000, the cumulative short order liquidation intensity of mainstream CEX will reach 452 million.
3. $BNB’s empowerment is really exaggerated. It has been on LAUNCHPOOL for two consecutive days to empower Holders. @binance has fully achieved this.
4. The U.S. SEC’s update on the Binance case defines AXS, FIL, ATOM, etc. as unregistered securities.
5. As#TONecosystem projects are listed on @binance one after another, $TON is also on the rise.
BTC
Hunting upward as expected! Congratulations to those who got on the train at 57800-57400 yesterday! Short-term support is 59600-59300, and there is a need for inertia to rise again! 58600-57300 below is the watershed between long and short positions. If it falls back later, pay attention to the opportunity to buy! There is an expectation that 63700-65000 above the daily level will be tested! If it falls below, it will continue to fluctuate downward!
1. CryptoQuant: More than 92% of Bitcoin exchange inflows come from short-term holders.
2. If Bitcoin breaks through $61,000, the cumulative short order liquidation intensity of mainstream CEX will reach 452 million.
3. $BNB’s empowerment is really exaggerated. It has been on LAUNCHPOOL for two consecutive days to empower Holders. @binance has fully achieved this.
4. The U.S. SEC’s update on the Binance case defines AXS, FIL, ATOM, etc. as unregistered securities.
5. As#TONecosystem projects are listed on @binance one after another, $TON is also on the rise.
BTC
Hunting upward as expected! Congratulations to those who got on the train at 57800-57400 yesterday! Short-term support is 59600-59300, and there is a need for inertia to rise again! 58600-57300 below is the watershed between long and short positions. If it falls back later, pay attention to the opportunity to buy! There is an expectation that 63700-65000 above the daily level will be tested! If it falls below, it will continue to fluctuate downward!
See original
If there is no market, take a rest! Waiting is the longest confession of love!
1. Standard Chartered Bank: Bitcoin may hit a new high by the end of the year, and the results of the US election will have limited impact.
2. Salvadoran President Nayib Bukele's promotion of Bitcoin may be more of a PR strategy.
3. BlackRock: Bitcoin is an alternative to global legal tender.
4. Poll: Harris leads Trump with 47% support.
5. Trump: There will be no next presidential election debate with Harris.
6. Trump: We will embrace the future with cryptocurrency.
7. El Salvador has bought 1 BTC every day for 665 consecutive days and now holds a total of 5,871 BTC.
BTC
Yesterday, the price hunted upward to 58500 as expected. I think it was just a pin test. The price is floating here, and there is still a probability of hunting upward again! Pay attention to the support of 57800-57400 in the short term, and pay attention to the price reaction of 59300-59800 upward!
2. Salvadoran President Nayib Bukele's promotion of Bitcoin may be more of a PR strategy.
3. BlackRock: Bitcoin is an alternative to global legal tender.
4. Poll: Harris leads Trump with 47% support.
5. Trump: There will be no next presidential election debate with Harris.
6. Trump: We will embrace the future with cryptocurrency.
7. El Salvador has bought 1 BTC every day for 665 consecutive days and now holds a total of 5,871 BTC.
BTC
Yesterday, the price hunted upward to 58500 as expected. I think it was just a pin test. The price is floating here, and there is still a probability of hunting upward again! Pay attention to the support of 57800-57400 in the short term, and pay attention to the price reaction of 59300-59800 upward!
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The daily report focuses on a precise stimulus! Keep up with the meat! The expected rate cut rhythm this month will end gently!
As soon as the key CPI data came out last night, the market was like playing a "fake fall" game. It seemed like it was going to keep falling, but it suddenly turned around and began to slowly climb up. Now the market is like building a solid bottom and preparing to stay stable for a while.
The CPI (Consumer Price Index, which reflects whether things are expensive or not) at the end of August was 2.5% on an annualized basis, which was lower than what everyone had thought and lower than last month, and was very close to the "perfect number" that the Federal Reserve wanted.
If this number drops too fast, people might worry about whether the economy is failing and panic. But fortunately, in addition to the total CPI, there is also a core CPI (which removes some factors that have a big impact, such as oil price fluctuations). It has risen slightly this month, and the annual rate just meets everyone's expectations. This is like good news, telling everyone that the economy is not that bad, and the market is much more at ease.
The CPI (Consumer Price Index, which reflects whether things are expensive or not) at the end of August was 2.5% on an annualized basis, which was lower than what everyone had thought and lower than last month, and was very close to the "perfect number" that the Federal Reserve wanted.
If this number drops too fast, people might worry about whether the economy is failing and panic. But fortunately, in addition to the total CPI, there is also a core CPI (which removes some factors that have a big impact, such as oil price fluctuations). It has risen slightly this month, and the annual rate just meets everyone's expectations. This is like good news, telling everyone that the economy is not that bad, and the market is much more at ease.
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Daily report is accurate and rational again! An ultra-short-term rebound is expected, but the reversal needs to wait until the top pressure level is stable!
Short-term market trends
The market has been volatile recently. When it falls, Bitcoin falls far more than altcoins, and when it rebounds, altcoins are even stronger.
According to the data, the market value of Bitcoin fell by 1.3% last week, while the market value of the top ten crypto assets increased by 4.4%, with a market value gap of 5.7%. A similar situation had rebounded after May this year.
On the funding side, Bitcoin ETF had a net inflow of US$28.6 million, indicating a recovery in short-term macro funds, or suggesting that 52,500 last week was the bottom of the market.
From a technical point of view, the market rebounded and repaired in the four-hour and daily market. On-chain funds have not rebounded significantly. A super-short-term rebound is expected. The reversal needs to wait for the top pressure level to stand firm.
The market has been volatile recently. When it falls, Bitcoin falls far more than altcoins, and when it rebounds, altcoins are even stronger.
According to the data, the market value of Bitcoin fell by 1.3% last week, while the market value of the top ten crypto assets increased by 4.4%, with a market value gap of 5.7%. A similar situation had rebounded after May this year.
On the funding side, Bitcoin ETF had a net inflow of US$28.6 million, indicating a recovery in short-term macro funds, or suggesting that 52,500 last week was the bottom of the market.
From a technical point of view, the market rebounded and repaired in the four-hour and daily market. On-chain funds have not rebounded significantly. A super-short-term rebound is expected. The reversal needs to wait for the top pressure level to stand firm.
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CPI released on September 11: worst plan, best expectation!
The last data before the interest rate cut will be released on September 11. The previous value of the seasonally adjusted CPI annual rate at the end of August was 2.9%, and the expected value was 2.6%. This expected value is very close to the Fed's target.
Therefore, given the stable improvement in the current macroeconomic data, combined with the Federal Reserve's conclusion that the current economy is not in recession, we can be sure that the first 25 basis point rate cut will have the necessary positive effects on the market. If the first rate cut is 50 basis points, it will once again usher in the panic of an economic recession and a deep decline.
BTC
Yesterday's daily report indicated that the price was going to test the H1 supply zone of 55800-57000 upwards, exceeding expectations. At present, the pin has tested the H4 supply zone of 57600-58500. Now we are concerned about whether there is a distribution in this area? The distribution was rejected, considering the support of 54500-53600 below. If it breaks through 58500, it will look up to 59000-59800!
Therefore, given the stable improvement in the current macroeconomic data, combined with the Federal Reserve's conclusion that the current economy is not in recession, we can be sure that the first 25 basis point rate cut will have the necessary positive effects on the market. If the first rate cut is 50 basis points, it will once again usher in the panic of an economic recession and a deep decline.
BTC
Yesterday's daily report indicated that the price was going to test the H1 supply zone of 55800-57000 upwards, exceeding expectations. At present, the pin has tested the H4 supply zone of 57600-58500. Now we are concerned about whether there is a distribution in this area? The distribution was rejected, considering the support of 54500-53600 below. If it breaks through 58500, it will look up to 59000-59800!
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Bitcoin price structure is similar to that in 2019, and this week may usher in a critical moment for the market! September 11, CPI data!
Hot News:
1. Researcher Julien Bittel: This year's Bitcoin price structure is similar to that of 2019, and this week may usher in a critical moment in the market.
2. CICC: A 25BP rate cut by the Federal Reserve in September remains the baseline scenario.
3. IntoTheBlock: Addresses holding 100 to 1,000 BTC currently control 20.3% of the circulating supply of Bitcoin.
4. According to CME's "Fed Watch": The probability of the Federal Reserve cutting interest rates by 25 basis points in September is 71%.
5. According to the on-chain data tracking service Whale Alert: USDC Treasury once again minted 50 million USDC and transferred them to Coinbase.
6. Data: Ethereum’s staking rate has reached 28.07%, and Lido’s market share has reached 28.41%.
1. Researcher Julien Bittel: This year's Bitcoin price structure is similar to that of 2019, and this week may usher in a critical moment in the market.
2. CICC: A 25BP rate cut by the Federal Reserve in September remains the baseline scenario.
3. IntoTheBlock: Addresses holding 100 to 1,000 BTC currently control 20.3% of the circulating supply of Bitcoin.
4. According to CME's "Fed Watch": The probability of the Federal Reserve cutting interest rates by 25 basis points in September is 71%.
5. According to the on-chain data tracking service Whale Alert: USDC Treasury once again minted 50 million USDC and transferred them to Coinbase.
6. Data: Ethereum’s staking rate has reached 28.07%, and Lido’s market share has reached 28.41%.
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BinanceTurns7
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#BinanceTurns7 Come celebrate 7 years of Binance with us to unlock digital badges and win some exclusive 7YA swag!
Task 1: Share Your Binance Birthday Wishes to Unlock the Basic 7YA Digital Badge
- Complete the setup of your Binance Square profile (e.g., username, profile, biography) and follow this account @Binance_Square_Official during the Activity Period.
- Comment on this Binance Square official post with your Binance birthday wishes, and ensure that your post includes the #BinanceTurns7 hashtag to unlock the basic 7YA digital badge.
Task 2: Post Your Favorite Binance Memories to Unlock the Upgraded 7YA Digital Badge & Binance 7YA Merch
- Users who successfully complete Task 1 may receive an upgraded version of the 7YA Digital Badge by sharing their fondest memories with Binance in a new Binance Square post that mentions the #BinanceTurns7 hashtag during the Activity Period.
- On top of that, the top seven participants with the highest total number of engagements (i.e., likes, shares, comments, quotes) for a qualified post in Task 2 during the Activity Period, will each receive one set of Binance 7YA merch.
Terms and conditions:
- 7YA digital badges will appear next to the profiles of qualified participants within four working days after the promotion ends.
- Winners of 7YA merch will be notified via a push notification under Creator Center > Square Assistant, within four weeks after the promotion ends.
- Users should complete the required instructions within the timeframe stipulated in the push notification to successfully receive merch rewards. Please note that winners should provide a valid shipping address, and will be responsible for any taxes, if applicable.
- No refunds or cash equivalent value of the rewards will be granted.
Activity Period: 2024-07-05 12:00 (UTC) to 2024-07-10 11:59 (UTC)
Binance Square Official
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