Yesterday, the European Central Bank announced a 25 basis point rate cut to boost the troubled economy. Other countries around the world are also cutting interest rates. For Bitcoin, it has a strong positive relationship with global liquidity, so the positive trend is continuing.
Yesterday, the United States released September retail sales data, which was also stronger than expected, showing a strong recovery in the US consumer market. Consumption accounts for about 60% to 70% of the US economy. The strength of US consumption means that the economy may not fall into recession, but may achieve a soft landing.
It’s just that these two macro events last night didn’t seem to have much impact on the price of Bitcoin. But it can be confirmed that the spot ETF still maintains a continuous net flow. RECT tweeted that the price of Bitcoin is preparing to retest to confirm whether it can achieve a perfect breakthrough in the future.
In the past few days of sideways trading, the long and short sides of the futures market have formed a confrontation again. To be honest, we have lost a clear sense of direction again. So we hope to see more breakthrough signals.
