$BTC
CPI is positive, and interest rate cuts are expected❗
Why did Bitcoin, which should have surged, wither again❓
The market rose in response to the positive data released last night, but unfortunately it still failed to break through the strong resistance range of 60,000.
Yesterday, the U.S. stock market plunged. The recent strong performance of technology giants, heavyweight stocks Nvidia closed down 5.57%, Tesla fell 8.44%, Meta fell more than 4%, Apple, Microsoft, Google and Amazon fell more than 2% respectively. In contrast, the Russell 2000 index, which is dominated by small-cap stocks, closed up more than 3.5%. The market value of the "Big Seven" evaporated by nearly $600 billion (about 4.35 trillion yuan) in a single day, which is equivalent to losing a JPMorgan Chase (market value of $595.46 billion).
The U.S. stock market has risen too much recently, and has been at a new high. In history, every time the interest rate cut comes, the U.S. stock market has fallen first and then risen. The Bitcoin market has become more and more U.S.-like in recent years. Last night, it also chose to follow. Yesterday, the top traders chose to stop profit and leave the market after the good news landed. The pattern of hemp is too small.
But I think these declines are short-term, and the market will gradually recover. The stock market funds that leave the market may enter the newer cryptocurrency market, just like the halving of Bitcoin in 2020. After the interest rate cut began in March, the market experienced a short black swan, and it also rose all the way, ushering in the big bull market in 2021.
History is always surprisingly similar. This year, Bitcoin is halved again, and the German government is shipping again. Mentougou pays compensation, and the interest rate cut is about to start. For long-term holders, I want to say that the decline is only temporary. On the contrary, if it continues to fall, it may be our last chance to enter the market. I am still optimistic about the continued rise in the future.
