BitEagle 🦅6.5 Accurate Market Analysis
Good morning, brothers. With the surge of BTC, we took profits on several coins in the morning.
The reason for this surge is traceable, and the group has interpreted it every time.
The PCE data released on May 31 was lower than expected, which is good news.
The PMI data released on June 3 was lower than expected, which is also good news.
The two major data confirmed that the US economy is cooling down.
Therefore, big funds bet on Friday’s non-agricultural data to cool down, and the Fed’s interest rate cut is ahead of schedule.
Yesterday, the inflow of ETF funds hit a record high, breaking through 600 million US dollars and purchasing more than 8,500 BTC.
Therefore, BTC rose sharply.
But at present, there is a lack of funds in the currency circle, and the pull depends entirely on large institutions.
But large institutions only buy spot ETFs
Therefore, the altcoins basically do not rise much
This can be seen from the on-chain data.
The stablecoins in the exchange have been flowing out during this period
The market has risen sharply, but there is an implicit crisis
The ceasefire in Gaza has collapsed again, and Hamas and Israel have rejected Biden at the same time
Poland has arrested 18 people on charges of planning sabotage activities on behalf of Russia
It is now recommended to have an overall position of 50%,
Choose whether to increase the position after the release of non-agricultural data on Friday
It is recommended to hold value coins:
AR, FTM, CHR
ETH, SSV, ENS
Remember:
There is a lack of funds in the market, and the funds are all in BTC. The altcoins are very fragile
