Market Analysis 8.30
Good morning, brothers. The price rose to $61,000 last night.
Last night I reminded you not to chase the rise. Today it fell back to where it was.
PCE data will be released at 8:30 tonight
Consumer confidence index will be released at 10:00 tonight
All data below expectations are positive, and above expectations are negative
Now everyone is calling for a rate cut in September. If these data before the rate cut are in line with or below expectations
There will be fewer ups and downs in the currency circle
If it is higher than expected, there will be ups and downs, but it will not affect the overall rise in the long run
A Nobel Prize-winning economist said that the impact of interest rate hikes will be delayed
So inflation will still fall after various measures, it is just a matter of time
In the past seven days, BTC in Binance has decreased by 49,052 BTC,
Coinbase has decreased by 13,844 BTC,
Why is it reduced? It is because big funds are buying at the bottom and hoarding goods.
The cost of buying at the bottom in this wave of ETFs and exchanges is $50,000-$60,000
So don't panic at this price now, hold it and wait for the BTC in Mentougou to digest it
After a period of ups and downs,
you will be able to find a new upward trend
