$BTC #加密市场回调

Last night, the job vacancy data released by the United States far exceeded expectations, indicating that the labor market has not cooled down and companies still have great recruitment needs. Affected by this, the market's expectations for the Fed's interest rate cut this year have been greatly reduced, and this situation has led to the collapse of the currency circle.

Binance Exchange's 4-hour trading volume reached 1.2 billion US dollars, setting a record for the largest trading volume in 2 months, even more than the trading volume when Bitcoin fell to the $91,000 mark in the previous two weeks.

Are you confused now and don't know the direction of the market next?

Let's take a look at the data on the chain and study the movement of capital:

1. After the big drop last night, among all exchanges, Coinbase's BTC net outflow accounted for the majority, with more than 7,000 outflows, which shows the intention of large investors to hold positions.

2. Stablecoins have basically not flowed out and remain strong.

With such a large trading volume and on-chain data, it seems that the market has fallen almost enough.

Next, the two key data of non-farm payrolls and employment rate released on Friday are attracting much attention. I am firmly bullish and will increase my position.