Crypto market analysis 6.29   Capital inflow slows down, hot money in the market is exhausted

(There is a summary of the day. My personal thinking is that it will rebound immediately. It is expected that there will be movement today or tomorrow. The bottom will stabilize around 57,000 or 58,000. If you are wrong, you will be beaten)

As inflation eases as expected, stock indexes have risen, but Bitcoin is still in a slump. Stocks rose slightly after the release of the personal consumption expenditure (PCE) price index data, with the Dow Jones Industrial Average, S&P 500 and Nasdaq 100 rising 0.23%, 0.39% and 0.55% respectively. In sharp contrast, the price of Bitcoin fell below $61,000.

The funds in the Bitcoin and crypto markets were once absorbed by the U.S. stocks. Since the election debate between Trump and Deng on Wednesday, Bitcoin and the broader cryptocurrency market have been showing uncertainty and volatility. The recent abnormal outflow of funds from the macro news, the reduction of capital inflows and the downward adjustment of growth expectations indicate that the stock market will enter a recession cycle in the second half of the year, and the recession cycle also means the beginning of interest rate cuts.

Daily level market

- ​​The daily level is in a large-scale downward trend, but the bottom will rebound. The large-scale downward trend pressure is around 62,000 and the support is around 60,000.

4-hour level market

The 4-hour downward trend is temporarily repairing the market, with upper pressure around 62,000 and 62,500, and the lower support position is around 59,800.

Intraday level analysis-

----The monthly line is about to close, and the bottom is likely to appear around 57,000--58,000. The possibility of continued decline is relatively small, but the intraday level needs to bottom out again, waiting for the intraday settlement. The intraday level upper pressure is around 61,200, and it continues to fall. The bottom support observes whether it falls below 59,000 or continues to bottom out once. The ultimate moment is likely to come.

Spot can just get through this difficult time in the history of cryptocurrencies safely and stay calm when things go wrong. #美联储何时降息？ #Meme板块普涨 #BTC走势预测