Just now, the heavy data was released, and the interest rate cut is going to fail again! The reason for the Bitcoin pullback is revealed

Tonight, the crypto circle has changed. Bitcoin fell to 67,700 US dollars, a drop of nearly 3%, and Ethereum plunged downward. As of the time of posting, the market had a 1-hour liquidation of 54.09 million US dollars, of which 48.725 million US dollars were liquidated in long positions, which brought a lot of shocks to the market.

What happened? The main reason is that the released economic data is bearish!

There are three main aspects:

① The initial value of the service industry PMI was expected to be 51.3, but the actual release reached 54.8, which was higher than expected. The full name of the service industry PMI is the service industry purchasing managers index. You can understand it as the purchasing price of the service industry, which reflects the economic strength of the service industry. Obviously, the cost of the service industry in the United States is still too high.

② The initial value of the manufacturing industry PMI was expected to be 50, but the actual release was 50.9, which was still higher than expected and also bearish. The manufacturing industry PMI is the purchasing managers index of the manufacturing industry, similar to the service industry, representing the high cost of the manufacturing industry.

③The number of initial jobless claims for the week of May 18 was expected to be 220,000, but the actual number was only 215,000, which was lower than expected, indicating a strong job market, indicating that the economy is still hot and there is still a risk of inflation, so it is bearish.

All of the above data are not satisfactory, which caused the sharp drop in the currency circle tonight. But I think that the Fed's expectation management of interest rate cuts has reached a perfect level. Whenever you think that interest rates will be cut, he will suddenly make a hawkish speech; when you think that interest rates may not be cut, he will also give you a candy, revealing a potential signal of interest rate cuts.

In short, it is not so pessimistic. After all, the landmark FIT21 bill has been passed, which is a big step in the history of encryption!

#BTC走势分析 #BTC $BTC

Follow me and surpass others with cognition!