2024.7.22 Macro Analysis

Good morning, brothers. BTC fell to $65,700 at 2 a.m. last night. It then rebounded immediately. What do you think of the market this week? How should we operate?

Two major events this week are both positive

(1) The Bitcoin Conference will be held on Thursday, July 25. Trump will attend and give a speech on the last day. Trump will call for BTC, saying that he wants to make the United States a leading country in the cryptocurrency industry and support everyone's wallet self-management rights. In principle, it is good for the cryptocurrency circle.

(2) ETH ETF may have news this week. Buy expectations and sell facts. Positive news may be negative news. The current BTC price is $68,000. If it rises another 10%, it will reach the previous high. The pressure is still great. The more BTC rises, the greater the risk of copycats.

In addition, the Mentougou incident has not been completely handled. It is recommended to hold a 70% position and keep a backup plan so that you can attack or defend. The long-term outlook for the cryptocurrency market is positive, but there are some negative factors in the short-term. If you have already invested, you must bear the risk of investing. If the market falls, don't lose control of your mentality, don't curse, and don't sell at a loss. Returns and risks are always positively correlated.

Two major economic data will be released this week, both of which are negative and negative, and positive and negative.

PMI data will be released at 21:45 on Wednesday

PCE data will be released at 20:30 on Friday

The current September rate cut has become the mainstream market view. If the data is negative, both US stocks and BTC will be hit, but judging from various data, the September rate cut seems to be a foregone conclusion. #BTC