Today, BTC has temporarily broken through $65,000. Many people are shouting that the market is going to rebound. Whether it is a rebound or not is still uncertain, but we can know that although the price has risen, the turnover of#BTCon the chain is low. The biggest possibility of the rise is still the low liquidity. Many people are looking forward to the speeches of Fed officials and Yellen. From the actual situation, the speeches of Fed officials are not very meaningful, but Yellen has provided some information.
First, Yellen believes that the liquidity of banks is sufficient and is considering how to increase liquidity. Then, she believes that the data on the labor market and inflation indicate that the United States is likely to achieve a soft landing. She also believes that the root cause of the repeated inflation may be housing, and hopes that the Fed can maintain the stability of the labor market, and even expressed that it will intervene in the US dollar if necessary.
Yellen's speech revealed at least two key points. One is that the current US economy is still good and there is a possibility of a soft landing. The second is that although the labor market is currently stable, it is still relatively fragile, and the Fed needs to continue to cut interest rates to keep the labor market from collapsing. Both of these messages sent a relatively friendly signal to the outside world.
Looking back at the data of #BTC, the turnover rate in the last 24 hours is almost halved compared to yesterday. The user's emotions seem to be mobilized a little. It can be clearly felt that the purchasing power is rising. Even the purchase of ETFs reported in stages has increased significantly. A large number of investors have begun to sell cautiously, and even short-term profit-makers have begun to expect higher prices.
Investors who held positions earlier are still indifferent. The chip concentration area between US$62,500 and US$64,000 is still increasing, and it has exceeded 1.324 million pieces. The support between US$64,000 and US$69,000 remains in a very good state. The current price changes still depend on whether short-term holders are willing to release their chips.
