BTC Price Analysis & Macro Impact:

Short-term:

Pressure from the macro environment: The interest rate cut trend in many countries around the world shows a slowdown in global economic growth, and the market's expectations that the Federal Reserve may also cut interest rates have risen. This is good news for risky assets and may support demand for Bitcoin. However, in the short term, the continued sluggish profitability of Bitcoin mining, coupled with uncertainty in global stock markets, may limit BTC's upside.

Technical side: If BTC can hold the support level of the $55K-$56K range, it is possible to reach more than $60K in the near future.

Long-term:

Potential opportunities: In the long run, if the global interest rate cut cycle continues, investors may turn more to safe-haven assets such as Bitcoin. In addition, traditional financial (TradFi) companies are gradually entering the crypto field. For example, the CEO of Cantor Fitzgerald said that traditional financial companies hope to view Bitcoin as an emerging asset class, which will bring long-term support to BTC.

Macro factors: If the Federal Reserve really cuts interest rates, it will further promote capital inflows into the crypto market, especially mainstream crypto assets such as Bitcoin and Ethereum. This could help BTC break out of its current consolidation range and move towards higher levels by the end of 2024. #BTC走势分析 #非农就业数据即将公布 #美联储何时降息？ $BTC $ETH $BNB