Market Analysis 7.13
Good afternoon, brothers. The market is stumbling and will approach $58,000.
Let's review the logic behind the market.
On Tuesday, Powell's speech was positive, clearly stating that inflation indicators are declining and interest rates can be cut without a 2% inflation rate.
The CPI released on Thursday was lower than expected, which was also a positive, and it also added fuel to the market.
But this week, our currency circle encountered a big negative impact that the German government has been desperately selling coins.
The German government was still selling yesterday, and a total of more than 9,000 BTC were sold this Monday.
But fortunately, it has been sold almost.
Whether the interest rate will be cut in September is not very important. The key point is that there will definitely be a rate cut in the future.
We are on the eve of a rate cut.
BTC fell below 60,000, and many cottages were cut in half. It is really not cost-effective not to participate at this price.
After the German government's big thunder is lifted,
the next is Mentougou.
Mentougou will pay compensation in batches, which will form a long-term suppression on BTC.
July-August is not as simple as imagined.
The Mentougou crisis has not yet ended, so you need to hold on to your coins and be patient.
But ETH's ETF will be launched as early as next week.
It may lead to a surge in the altcoin market.
It is recommended to hold tokens: Stx, FTM
ETH and its three sectors Uni, Ens, Ssv
Japanese Ethereum Astr, Korean Ethereum Klay
Keep bullets to cover positions, beware of the Mentougou news causing the currency circle to fall to $54,000 again
