Crypto Market Analysis 8.29   VC funding continues, the market gradually recovers?

OpenAI is in talks to raise billions of dollars in a new round of financing, which will bring its valuation to more than $100 billion. According to people familiar with the matter, venture capital firm Thrive Capital is leading this round of financing and will invest about $1 billion. Microsoft is also expected to invest funds.

Fed Bostic said that there is still some way to go in terms of inflation; employment is still quite strong by historical standards; the Fed cannot wait until inflation reaches 2% to abandon its restrictive stance; it is still waiting for data to determine the timing of rate cuts; inflation is slowing faster than expected, and the unemployment rate has risen more than I expected, which means we should bring forward the rate cut to the third quarter.

Compared with Friday, there is a more important data today. The GDP revision will start at 8 pm, and tomorrow is leveraged delivery. The market is about to change.

Daily level market

· Daily level:   The daily level briefly bottomed out and then rebounded. Now the bottom support is around 57,800 and the farthest support is around 57,000. If it falls below the rising logic, it will be cancelled. It will go down to around 55,000. The upper pressure is around 60,300 and 61,500.

4-hour level market· 

4-hour level: The market is in a rapid downward trend at the 4-hour level, temporarily repairing the market trend for a period of time. The upper pressure is around 59,800 and 61,500, and the bottom support is around 58,300 and 57,800.

Intraday level analysis

The recent sharp drop in Bitcoin is normal, mainly due to the uncertainty of American politics. As well as the current economic instability, there may be a risk of a hard landing at any time. The current sharp drop and surge are normal. Just keep yourself alive, and don't worry too much about other things.

· The intraday decline has begun to bottom out. Pay attention to 57800 continuing to probe and explode bulls: the intraday market is in a short-term repair, the bottom support is around 58500 and 57800, and it will be a ghost after breaking it. In the continuous downward trend, the upper pressure is around 59500 and 59800. After breaking it, see if the 4-hour level pressure is effective.

The spot market needs to safely pass through this difficult moment in the history of encryption and remain calm in the face of things. #以太坊基金会 #美国CPI数据连续第4个月回落