Market Analysis 11.2
Hello brothers, yesterday a significant data was released
The unemployment rate met expectations, and the non-farm data released was below expectations
This means that the possibility of a 25 basis point rate cut in November and December has increased
Good news for the crypto circle
Next week on 2/3, 11.5-11.6, the U.S. presidential election will take place
Next week on 5, 11.8 the Federal Reserve will announce the interest rate decision, followed by Powell's press conference
In the past few days, on-chain data shows that Binance has inflowed over 4000 BTC, feeling that the risk is increasing
If BTC surges before the election, we may need to reduce our positions
But currently, the increase is not large, and if it pulls back to $69800, there’s no need to worry
If Trump wins next week, BTC is expected to surge again before pulling back
But if Harris wins, BTC may have a larger pullback
So it’s not suitable to be fully invested right now
Keep some bullets to buy when BTC drops
The U.S. election has a short-term impact on the crypto circle
But whether Harris or Trump wins, it is beneficial for the development of cryptocurrency
They are both friendlier to the crypto circle than the current Biden administration
But Trump is friendlier to the crypto circle
Currently recommending a 60% position to avoid missing out
If BTC drops to $67000, continue to add positions