10.5 Accurate Market Analysis:
Hello everyone!
Non-farm payrolls data released last night beat expectations, unemployment unexpectedly fell
This should have been bad news for the crypto market
But BTC recovered due to these 3 factors
(1) The economy looks strong, no recession, causing the US stock market to rise sharply, and the US stock market dragged BTC along
(2) BTC has fallen deeply, the price is reasonable, so there are large buy orders leading to recovery
(3) The conflict between Israel and Iran has temporarily subsided
Based on blockchain data
(1) Stablecoins continue to flow into exchanges to catch the bottom
(2) BTC withdraws from exchanges
So yesterday I told everyone in the VIP group not to worry, look at the recovery
Although last night's non-farm payrolls data poured cold water on the possibility of the Federal Reserve's strong interest rate cut
But this year there will still be two 25 basis point cuts
Three reasons following determines the major trend is bullish
1. We are in a rate cut cycle/pre-global quantitative easing
2. Current BTC holding costs are high, not much profit
3. Cryptocurrency receives support from governments around the world, including the US and Japan
After the conflict between Israel and Iran is resolved,
BTC will continue to fluctuate upwards.
