Market analysis on July 3
1. Powell's speech and market reaction
Last night, Powell gave a speech, saying that inflation has made considerable progress, but it is still unclear whether there will be a rate cut in September and when the rate cut will be timed. Although his speech should have been good for the market, the result was that gold rose, the US dollar index (DXY) fell, and BTC fell in the opposite direction.
2. ETF funds and on-chain data
There is not much inflow of ETF funds. Judging from the on-chain data, BTC has not flowed into the exchange on a large scale, but stablecoins are flowing out of the exchange, which is worrying.
3. Market outlook and operational suggestions
Although the overall rebound is optimistic, it is still necessary to prevent the last drop. Therefore, it is recommended that you do not chase the rise. The non-agricultural data will be released at 20:30 this Friday. The last non-agricultural data was abnormally exceeded, which had a greater impact on the currency circle. I hope that the data will be normal this time.
It is currently recommended not to cut meat and short positions at the bottom, and keep the position no more than 50%, so that there will be funds to buy the bottom when the big drop occurs. Inflation will gradually decline, and the Mentougou problem will also be solved. If you persist, you will eventually win.
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