Interpretation of today's market data: The market remained "calm" before the opening of the U.S. stock market on Monday, and the cottage industry was "short-lived" over the weekend. Can the enthusiasm for trading interest rate cuts continue this week?
The data on Monday was in line with expectations, sluggish and calm. At present, the trading direction of Asia and Europe is basically activated after the opening of the U.S. market, which has been the case every Monday recently.
#BTC☀ The proportion rose again, the proportion of cottages weakened, and the optimistic risk preference of cottages only lasted for one weekend. The overall trading volume dropped sharply, which shows that the current traders are "confused". Before the mood is determined, traders have lost interest in trading.
The funds of stable coins on the market continue to accumulate:
The daily increase of stable coins on the market is 100 million, and currently remains at 170.4 billion.
USDT: The official website data is 117.862 billion, an increase of 186 million compared with last Saturday, and the trading volume has dropped sharply by 42.86%, the utilization rate of funds is low, and the trading sentiment is poor.
USDC: The data website shows that the market value has decreased by 182 million, and the trading volume has decreased by 50.51%. The trading volume has decreased significantly, and the market value of funds has also decreased. There may be some capital outflow on Monday, which is normal. If the outflow continues, we need to be vigilant.
Summary:
At present, the market data remains relatively calm. The market is waiting for the opening of the US stock market to see how the trading sentiment in the US area is. Powell's speech last Friday made the market trade the expectation of interest rate cuts again. How long can this expectation of interest rate cuts last? This is also the question we raised last weekend. Let's see how the US stock market will express on the first day of this week.
If the interest rate cuts continue to be traded, the current bullish sentiment in the crypto market may not be too good. The interest rate cut is the most intuitive benefit to the US stock market. It can only bring some emotions to the crypto market at present, and how the bullish sentiment can continue requires subsequent stimulation.
This week's key data, the revised GDP and PCE in the second quarter, are data closely related to the economy. Before the data is released on Thursday and Friday, can the crypto market continue to be bullish with the United States? The performance of the US stock market is not very optimistic at present. Of course, Nvidia's financial report on Wednesday is also the highlight of technology stocks.
Today's data cannot draw a very effective conclusion at present, and we still have to wait for the situation of the US stock market.
