Today, BTC has temporarily broken through $65,000, and many friends are shouting that the market is going to rise.
It can be seen that although the price has risen, the turnover of BTC on the chain is low, and the biggest possibility of rising is still the low liquidity. Many friends are looking forward to the speeches of Fed officials and Yellen. From the actual situation, the speeches of Fed officials are not very meaningful, but Yellen has provided some information.
First, Yellen believes that the liquidity of banks is sufficient and is considering how to increase liquidity. Then, she believes that the data on the labor market and inflation indicate that the United States is likely to achieve a soft landing. She also believes that the root cause of the repeated inflation may be housing, and hopes that the Federal Reserve can maintain the stability of the labor market, and even expressed that it will intervene in the US dollar if necessary.
Yellen's speech revealed at least two key points. One is that the current US economy is still good and there is a possibility of a soft landing. The second is that although the labor market is currently stable, it is still relatively fragile, and the Federal Reserve needs to continue to cut interest rates to keep the labor market from collapsing. Both of these messages sent a relatively friendly signal to the outside world.
Back to the BTC data, the turnover rate in the last 24 hours was almost halved compared to yesterday. The user's emotions seem to be mobilized. It can be clearly felt that the purchasing power is rising, and even the purchase of ETFs reported in stages has increased significantly. A large number of investors have begun to sell cautiously, and even short-term profit-makers have begun to expect higher prices.
And investors who held positions earlier are still indifferent. The chip density area between US$62,500 and US$64,000 is still increasing, and it has exceeded 1.324 million pieces. The support between US$64,000 and US$69,000 remains in a very good state. The current price changes still depend on whether short-term holders are willing to release their chips.
The bull market is really not far away! It’s just that there is almost no narrative except meme now, but fortunately, the wealth-making effect of the currency circle is opened first, and the external entry can trigger a real bull market.
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