Attention!
$BTC The callback is a small episode in the bull market!
Q4 market performance is still optimistic!
Bitcoin experienced fluctuations today, sliding from above $65,000 to around $63,200.
However, this decline is actually a normal callback in the bull market, so there is no need to panic too much.
Markus Thielen, founder of 10x Research, said that they mentioned the overbought phenomenon of BTC in the short term in their report last week, which is reflected in the greed and fear index.
The current short-term market signal is bearish, indicating that there may be a certain callback next.
At the same time, the forward-looking indicator of ISM manufacturing new orders data is close to the recession level, making future market data full of uncertainty.
However, he expects the Federal Reserve to cut interest rates by 50 basis points again, and China’s recently announced large-scale stimulus measures will also have a positive impact on the market.
In addition, it is worth noting that the US ISM manufacturing PMI in September and JOLTs job vacancies data in August are also about to be released, which may have a further impact on market trends.
In short, although Bitcoin has experienced a short-term correction, this is just a minor episode in the bull market, and the market performance in the fourth quarter remains optimistic.
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