Last night, Bitcoin broke through 70,000, and the reason was found! The data is "confirmed", will the Fed cut interest rates in advance?

Last night, Bitcoin reached a high of 71,979 US dollars, breaking through the previous 70,000 pressure level in one fell swoop. The Meme coins mentioned by Mengge also rose to varying degrees, and we also stopped a lot of profits. This pull-up is actually stimulated by favorable factors. Yesterday, the US Bureau of Labor released a report that job vacancies in April fell to the lowest level in three years, which was far below expectations. This also confirms that the US labor market is gradually cooling down.

The labor market is cooling down, and traders expect the Federal Reserve to cut interest rates at a faster rate in 2024.

There will be non-agricultural data released on Friday, and many institutions currently expect the data to cool down. Yesterday, the inflow of funds into the Bitcoin ETF set a record, breaking through 600 million US dollars, and purchasing more than 8,500 bitcoins. Multiple favorable factors stimulated the market for Bitcoin to break through 70,000 US dollars.

Let's talk about the situation of altcoins. At present, the amount of funds in the entire currency circle is more biased towards stock game, and the overall state is still lacking funds. In addition, there are still some potential crises, such as the local conflicts in Gaza and Palestine and Israel, and the sword of Damos of the Mentougou incident is still hanging in the air.

Therefore, it is recommended not to exceed 50% in terms of positions, and choose to increase positions after the release of non-agricultural data. Bitcoin and Ethereum and other large-weight coins must be allocated, and other high-quality altcoins can be allocated.

#5月非农数据即将公布 #6月份热门板块 $BTC