The probability of a rate cut in September is increasing! The US PCE data for May is in line with expectations of "slowing inflation", why is Bitcoin not affected?
The U.S. Department of Commerce released PCE data for May yesterday (28th), showing that inflation slowed down again, which once again strengthened the market's bets that the Fed will start cutting interest rates in September. The U.S. stock market rose slightly collectively, but Bitcoin could not reverse its downward trend. Following the May CPI data and retail sales data released by the United States earlier this month showing a cooling of inflation, the Ministry of Commerce released another important indicator for measuring inflation yesterday (28), namely the May PCE (Personal Consumption Expenditures Price Index) data, showing that inflation slowed down again. Specifically: The overall PCE in May remained unchanged from the previous month, with a monthly increase of 0.3% in April; compared with the same period last year, the increase was 2.6%, and the annual increase in April was 2.7%, which was in line with market expectations.
The cryptocurrency market has reached a temporary halt in its decline. Is this a reversal or a continuation of the decline?
The long-awaited general rise in prices has arrived, but the social network has not become active. Is the script of rebound and decline going to happen again? This problem has nothing to do with the technology itself, and has little to do with the news. Because the trend tests patience and courage You doubt the market, technology, and trends. These are fatal problems. No one can help you solve them. You can only rely on yourself. Because the only person who can make you willingly invest your money in the currency is you, so no matter what the result is, it has little to do with others, let alone the market.
About to explode: These 4 popular altcoins will increase 100 times
As we are about to enter July, market sentiment has undergone a major change, and the price of Bitcoin has climbed again to about $62,000. We still firmly believe that $70,000 Bitcoin is not the end of this bull market in the future. Although history will not repeat itself completely, it often has similar rhythms. Next, one of the main expectations of the market is: first, the approval of the Ethereum ETF, and second, the Fed's interest rate cut. I think these two things are very happy to happen, it's just a matter of time. Given that every pullback is still a good opportunity to add positions in batches.
Ready to Explode: These 3 Popular Altcoins Could Soar 100 Times in a Bull Market!
Trump did not mention cryptocurrency! Bitcoin quickly reversed and fell! The market saw a rare "decoupling" trend!
On Friday (June 28), Bitcoin gave up its early Asian gains and fell back to the $61,500 level. Republican presidential candidate Donald Trump did not mention cryptocurrencies in the TV debate. Bloomberg reported that Ethereum outperformed Bitcoin. Wall Street asset management giant Van Eck submitted ETF documents for the US blue chip public chain Solana to the US Securities and Exchange Commission, stimulating the SOL token to decouple from the market and surge higher. The first televised debate between the current US President Biden and Trump has ended, but no content related to cryptocurrency was mentioned, which led to a rise and then fall in Bitcoin prices.
Analysis of the intraday market of BTC and ETH on June 28: These three altcoins are about to explode, and they can achieve a 100-fold increase by the end of 2024!
Market Review Yesterday, Bitcoin rebounded slightly, but failed to reach the expected value. In the evening, SOL showed positive fundamentals and is expected to apply for ETF, which slightly boosted market sentiment. However, the current BTC 4-hour and daily level upward momentum is still suppressed, with continuous long upper shadows and large resistance above. The probability of a short-term breakthrough is not high. It is expected to continue to consolidate during the day. Bitcoin rose slightly yesterday. ETF has a chance to start trading in early July. The market is optimistic about the development of trading. There is still speculation in the short term. Pay attention to the decline after the good news is exhausted and take precautions. The copycat sector rises synchronously with the mainstream. Most currencies have a slight rebound. Short-term gaming opportunities can be sought during the day.
Two big news came from China's political arena! "Hawkish rate hike" officials defended the US dollar, gold 2327 sounded the counterattack, Wall Street funds flowed back to Bitcoin!
On Friday (June 28), the US dollar index fell to 105.88. Despite a slight decline, the Fed's hawkish officials were willing to support another rate hike, supporting buying before the release of the US PCE. Gold sounded the horn of counterattack at $2,327, but it is still necessary to be cautious of unexpected PCE explosions. Wall Street funds flowed back to the Bitcoin spot ETF, stimulating the price of the currency to rebound to $61,700. China's Third Central Committee meeting to be held on July 15, two defense ministers expelled from the party The Third Plenary Session of the 20th Central Committee of the Communist Party of China, which has been postponed for more than half a year, has finally been scheduled to be held in Beijing from July 15 to 18. According to the official media Xinhua News Agency, the Political Bureau of the CPC Central Committee yesterday listened to a report on the solicitation of opinions on the draft "Decision of the CPC Central Committee on Further Comprehensively Deepening Reforms and Promoting Chinese-style Modernization" within and outside the party, and decided to submit the draft document to the Third Plenary Session of the 20th Central Committee for deliberation after making revisions based on the opinions discussed at this meeting.