Market Analysis 11.2
Hello brothers, a significant data was released yesterday
The unemployment rate met expectations, and the non-farm data released was below expectations
This means that the possibility of a 25 basis point interest rate cut in November and December has increased
Good news for the crypto space
Next week on 2/3, 11.5-11.6, the U.S. presidential election will take place
Next week on 5, 11.8 the Federal Reserve will announce the interest rate decision, followed by a press conference with Powell
In the past few days, on-chain data shows that Binance has seen an inflow of over 4000 BTC, feeling that the risk is increasing
If BTC surges before the election, we need to reduce our positions
But currently, the increase is not large, if it pulls back to $69800, there’s no need to worry
If Trump wins next week, BTC is expected to surge again before pulling back
But if Harris wins, BTC may have a significant pullback
So it's not suitable to be fully invested right now
Save some bullets to buy when BTC drops down again
The U.S. election has a short-term impact on the crypto space
But whether Harris or Trump wins, it's beneficial for the development of cryptocurrency
Both are friendlier to the crypto space than the current Biden administration
But Trump is even friendlier to the crypto space
Currently recommending a 60% position to avoid missing out
If BTC drops to $67000, continue to increase the position
