Several macro-favorable factors! Why doesn't the BTC market rise?

Let's first look at some recent data, which are considered good news. First, the US GDP grew by 1.3% year-on-year in the first quarter, which was revised down by 0.3 percentage points from the first estimate.

In addition, the US personal consumption expenditure (PCE) in the same period was revised down by 0.5 percentage points, with a year-on-year growth of only 2%. This means that the US economy is not as strong as imagined.

The economy is cooling down, consumption is cooling down (the downward revision of PCE growth also indirectly proves that the US consumer purchasing power is declining), demand is declining, and inflation is cooling down. This is a data that is conducive to the expectation of interest rate cuts.

Let's take a look at another confirmation of the recent US employment data. The number of first-time unemployment claims in the week of May 25 was 219,000, slightly exceeding the market forecast of 217,000, which also shows that the US unemployment rate is actually rising.

The four-week average number of first-time claims rose to 222,500, reaching the highest level in 8 months.

There are signs that the overall US economy has slowed down, which has created a good atmosphere for inflation to fall.

Tonight, the United States will release PCE data for April, which can be said to be very critical.

The above is for reference only, and we still have to wait for the signals given by the market.

Talking about the market: The entire market shows a clear trend of shocks. It is still a market without new narratives, and it is destined to remain a rotation pattern. MEME comes and goes very quickly. How to play in a market without new narratives is to play meme. The next trading day will be June, and there is a high probability that it will start to move upward at the beginning of the month. I hope so!

At present, the Bitcoin market is at a critical intersection of macroeconomics and technical analysis. We must pay close attention to the upcoming Fed policy changes and their potential impact on the crypto market.

The current main focus of the market is on the Fed's possible interest rate cut expectations.

Although it is unlikely to cut interest rates in June, the market generally expects interest rate cuts in July or August, which is a positive signal for bulls.

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