The market's fear of rising inflation expectations is far greater than the increased expectations of interest rate cuts brought about by the deterioration of employment data. It seems that the one-day rise was wiped out by a data with only Samsung's importance in less than an hour.

The expected value of the US one-year inflation rate in May is 3.2%, and the announced value is 3.5%.

High inflation -> delayed interest rate cut expectations -> Bitcoin falls

Low inflation -> early interest rate cut expectations -> Bitcoin rises

In addition to macro data, we must also keep an eye on the Nasdaq Composite Index. For example, the trend of#BTCyesterday and today basically coincides with the Nasdaq minute level, especially when there is no independent narrative, the shrinking volume is even more obvious.

Macro data -> Nasdaq -> Bitcoin with technology stock attributes -> general direction of the currency market