Macro is hard to call at the moment.

Yesterday i noted i think we could see Bullish conditions if the unemployment came out around 229k.

It came out a fair bit higher(243k) and paused the Bullish sentiment for a while but at the Start of the NY(stock market) session it seems to be Bullish.

Obviously the current sentiment is that the labour market is not at recession level risk.

There is usually a last stage of Euphoria before a recession or crash.

Other markets outside of Crypto are up and down day to day.

It all feels very confused to me, even the odds of an interest rate cut now show a small % that September will have no cut, it was 0% a couple days ago.

Maybe because of Trumps comments this week, maybe the market is pricing in how he could influence the Feds decision.

Its Friday so a lot of balancing will be done today so avoid being at high margin and leverage.

There is a lot of confusion in the market and if Crypto rallies over the next week towards the 2.6T overall crypto market cap i would advise taking profits on any short-mid term trades you have open, even lower cap Spot holdings.

Fomo might get us to around 2.6T but unless an interest rate cut happens in July i cant imagine crypto will go much higher.

I highly doubt an interest rate cut will happen in July.

Etheruem ETF fomo and Trump speaking at BTC conference next week might give the Crypto market a short term boost but large leveraged trades will probably take profit nearing 2.6T market cap.

BTC dominance has been climbing so this is not the start of an ALT season.

I dont have much faith in any sustained(weeks) bullish price action at the moment.

Take profits near 2.6T, if we get there.

Trade safely.

Peace

P.S i delisted my Pixel post from earlier, it hit my SL(in profit), the trade idea is no longer valid so i will delist it.

#TheWolfThatWins #BTC☀ #US_Job_Market_Slowdown #ETHETFsApproved