Retail investors lost a lot! Why did Bitcoin suddenly rise to 70,000 and then plummet? Did the bull run away again?
Bitcoin briefly rose yesterday and broke 70,000 US dollars. For a while, many retail investors shouted that the bull was back. So many people rushed in at 70,000, but it was dark and windy at night. The abominable Biden actually transferred a huge amount of big cakes, and Mr. 100 seemed to have heard the news in advance and smashed more than 2,000 bitcoins. This is good. Before the carnival was over for 24 hours, the leeks stood guard at a high position. There is no excitement in the currency circle even on a roller coaster, and the assets are up and down.
On Monday, the on-chain activity of Bitcoin increased significantly compared with the weekend, indicating that the impact of Trump's speech has not weakened after a weekend, but has increased. This caused the price of Bitcoin to rise to $70,000 before the opening of the U.S. stock market. However, after the opening of the U.S. stock market, the price of Bitcoin gradually fell, indicating that the market is digesting the impact of Trump's speech.
The focus of the market this week has returned to the macro level
The small non-farm payrolls on Wednesday, the interest rate meeting on Thursday morning, and the unemployment rate on Friday are all the focus of this week
Let's talk about the interest rate meeting first. It is almost impossible to adjust the interest rate at the July interest rate meeting. Even the market does not expect a rate cut, so the focus of the focus is to see whether Powell will say in the Q&A whether he may expect a rate cut in September.
At present, the market generally believes that the Federal Reserve will start the first rate cut in September. Even some Federal Reserve officials think so when they are interviewed. So CME gives a probability of a rate cut in September that is close to 90%. If the rate cut starts in September, then there is a high probability that there will be no moths. Then September is a defensive rate cut, which is a good performance for the market
