This week's two major economic data, PPI and CPI, have been released. PPI rose slightly and CPI remained flat. The overall impact was mixed, bringing more uncertainty to the market outlook. Several Wall Street giants also have inconsistent views on interest rate cuts this year. Currently, the top What I know is that institutions generally believe there is room for interest rate cuts this year (around 2 yards). The Fed's attitude is very clear. It will stay put and observe the data in the next few months. Based on the performance of PPI in the past few months, the inflation in June is not expected to be too good. As can be seen from the above figure, PPI, as a leading indicator, has been ahead of CPI, reflecting inflation. situation.

Market liquidity began to improve. The 2024 Q1 institutional 13F quarterly report was released. Of the 15 largest institutional holders of Bitcoin, 13 are net long positions, 1 is neutral, and 1 is short. There are about 21 US Bitcoin ETFs. % of institutional holders, with an average allocation of about 0.75%, there is still a lot of room for growth!

📊 From the data point of view, the capital utilization rate has increased, but the overall market sentiment is pessimistic. It is speculated that the market situation in recent days is caused by news-driven spot buying (institutions); $BTC The chips are concentrated in the long term in the short term, and the bull momentum begins to be released. Overall It looks like it is the initial stage of a new uptrend (which is about to shake😎).

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