Market Analysis 4.24
Good morning, brothers. BTC has been trading sideways since last week’s rebound.
Other altcoins are a bit sluggish.
The reason is that there is insufficient capital in the market.
People don’t have high expectations for the future.
After the launch of the spot ETF and the halving, there seems to be no major narrative.
Therefore, we need to wait for the narrative of the Fed’s rate cut to reappear before the cryptocurrency market can regain its momentum.
Pay attention to the release of (1) unemployment benefits at 8:30 p.m. tomorrow
(2) U.S. GDP in the first quarter
(3) PCE in the first quarter
The release of (1) March core PCE at 8:30 p.m. the day after tomorrow
(2) University of Michigan Consumer Confidence Index
Before the data is released, panic will cause BTC and altcoins to pull back
But after the data is released, there is a 30% chance that the current expectation of no rate cut by the Fed can be reversed
Currently, the recommended position is 80%.
The previously bottomed-out currencies should be held patiently.
Don’t add to your position with floating profits. Stay cautiously optimistic.
Brothers who missed out can buy some BTC, ETH, Chr, FTM, and WLD.
