(1/2) Biden withdraws from the election + Ethereum ETF is listed, welcome the big volatility, more operation opportunities are coming!
[Basic]
1. In the early morning of Monday Beijing time, Biden suddenly announced his official withdrawal from the 2024 US presidential election and supported the nomination of Vice President Harris as the Democratic presidential candidate. The odds data of some Bo lottery markets show that Trump's probability of winning the November election has slightly declined.
Biden's withdrawal from the election has increased the uncertainty of the election. The market will wait and see whether Harris can get the D nomination in mid-August and whether she has a chance of winning the challenge to Trump.
2. The uncertainty brought about by Biden's withdrawal from the election will lead to a significant increase in the volatility of the entire market. Today (Monday) opened, the US dollar fell, gold surged, and US stock futures opened higher.
$BTC After a rapid decline of nearly 2,000 points in the early morning of today, it continued to rise by nearly 3,000 points.
From the time Biden withdrew from the election to the time Harris was officially nominated in mid-August, the market's big fluctuations may continue.
Trump is currently leading in the polls. Before Harris brings a substantial impact to Trump, the "Trump deal" will continue to have the upper hand. BTC is still bullish overall, and it is still mainly long, and shorting is cautious.
3. In addition to Biden's withdrawal from the election, the important events that brought big fluctuations this week include (all Beijing time):
Wednesday (July 24): Ethereum ETF may be listed for trading
Thursday (July 25): Initial value of the annualized quarterly rate of the US real GDP/core PCE price index in the second quarter
Friday (July 26): US June core PCE price index annual rate
Saturday (July 27): Trump attended the Bitcoin Conference and delivered a speech
[Technical side]
1. Daily line maintains a strong run above the 7-day moving average, breaking through the 60-day (64560) and 120-day moving averages (65100), bullish.
2. 4-hour level runs in the upward channel, MACD diverges twice, and there is a possibility of technical repair.
