2024.4.6 Macro Analysis

Last night, the non-agricultural data was expected to be 200,000, but the result was 300,000, which was much higher than expected. After the data was released, there was a wave of decline, and the negative news was exhausted and then fluctuated upward. US stocks and gold rose sharply, but BTC seemed to have average energy and had not recovered to the high point of the previous night.

From the data on the chain, during the decline in the past few days, BTC in the exchange has been bought. From April 1 to today, April 6, a total of more than 30,000 BTC flowed out of the exchange, of which Binance and Coinbase each flowed out 10,000 BTC. Prove that there are still large international capital hoarding.

As various economic data show that inflation is too high, the Federal Reserve has delayed the interest rate cut, and we have experienced a major adjustment for two weeks.

But the sun always comes after the rain. If the Federal Reserve cuts interest rates in June, it will be the best. If it does not cut interest rates, it is also best to continue to convey lower expectations.

BTC has not recovered yet. Don't chase the short-term skyrocketing coins. There is no sustainability at the 4-hour level. It is difficult to stand firm at 68,500. The probability of a second bottoming out is very high, and it may take some time to wash the market! #BTC