As the weekend is approaching and the PCE data tonight did not bring about a significant price increase, there is no need to interpret the market. We will assign a task to Bitcoin over the weekend: to hold 60,000.
Although the U.S. stock market opened at a record high after the data was released, the U.S. stock market is still very different from the crypto market in fundamentals, so it is difficult for us to judge whether the current U.S. stock market is rising due to macro sentiment or independent trends. Therefore, we can only expect but not determine whether the U.S. stock market can bring liquidity to the crypto market after the close.
Then the task of Bitcoin over the weekend is to hold 60,000 in the current volatile decline, so the sentiment of the weekend cottage will not fall back so quickly.
Next week we will face the game of large and small non-agricultural data in June. Although the data in May has already had reasons to promote interest rate cuts, the data for a single month is still the reason for the Federal Reserve to maintain high interest rates. If the data for June starting next week continues to be more conducive to interest rate cuts than in May (unemployment rate increases, employment rate decreases, CPI PCE decreases), it will greatly increase the probability of the Federal Reserve cutting interest rates in September.
