Market analysis on July 3

1. Powell's speech and market reaction

Last night, Powell gave a speech, saying that inflation has made considerable progress, but it is still unclear whether there will be a rate cut in September and when the rate cut will be timed. Although Powell's speech should have been good for the market, the result was that gold rose, the US dollar index DXY fell, and $BTC fell in the opposite direction.

2. ETF funds and on-chain data

There is not much inflow of ETF funds. On-chain data shows that BTC has not flowed into exchanges on a large scale, but the outflow of stablecoins from exchanges is worrying.

3. Market outlook and operational suggestions

Although the overall market rebound direction is optimistic, it is necessary to prevent the last drop, so it is recommended that everyone do not chase the rise. The non-agricultural data will be released at 20:30 this Friday. The abnormal excess of non-agricultural data last time had a greater impact on the currency circle. This time, I hope the data will be normal.

Don't cut your short position at the bottom. The current position should be controlled within 50%, leaving funds for bottom fishing when the market falls sharply. Inflation will fall, the Mentougou problem will be solved, and you will win if you persist. #BTC☀ #BTC突破7万大关 #BTC15万