I've been a bit lax lately; I haven’t been submitting my assignments on time. Mainly because I've added some entertainment activities for myself, and it seems I added a bit too much. I need to reduce it appropriately. These past two days, #BTC has been in a slight fluctuation trend, and there are no major issues. Although $MSTR is continuously buying #Bitcoin, there are still many CopyCats flocking in, but it doesn’t seem to have much help for BTC's price.
In fact, it’s not difficult to see from the spot ETF data that the data from the past week has settled down. Users' FOMO sentiment has gradually receded. Of course, the focus at this stage is still on Microsoft's vote. On Monday, Michael announced that he had a meeting with Microsoft's board for less than four minutes, during which he discussed the advantages of holding BTC and released the PPT of the speech.
To be honest, it’s a bit rough. I read it carefully and didn’t see too much impulse. Of course, Michael definitely wouldn’t just read the PPT during his speech. Normally, after I finished reading this PPT, I should have deducted points, but the speech was on the weekend, which piqued my interest a bit. Why schedule this on the weekend? It’s possible that the board wanted to consider more.
However, based on the current situation, the probability of passing is still relatively low. Aside from the Microsoft issue, many friends have asked me whether there will be macro impacts, including PMI or non-farm data. PMI has no significant impact, while non-farm data will have a larger impact. The non-farm data will be released this Friday, and the data is not looking good. The unemployment rate expectation has increased from last month's 4.1% to 4.2%, and both the annual and monthly wage rates are declining, which is not favorable for the economy.
However, this data can indeed help the Federal Reserve increase some rate cut decisions. After all, rising unemployment and declining wages are not what the Federal Reserve wants to see, as it increases the probability of economic risk. But it’s still a bit early to say there will be an economic recession, so let’s wait and see. The labor statistics data always has some surprises.
The focus is still on the 11th. If it passes, it will be better; if it doesn’t, it may dampen the mood.
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