Market Analysis 9.1
Hello, brothers. There will not be a big rebound over the weekend.
In order to solve the big thunder in Mentougou in 10 years, more than 80,000 BTC selling pressure,
it will take at least half a month of fluctuation period.
The release of several economic data during this period will also bring some fluctuations.
Current bullish factors:
(1) Currently, BTC computing power is at a low point, and miners are not making much money, indicating that the market is close to the bottom
(2) The last halving cycle started to surge in the fourth quarter. Will it start to rise in the fourth quarter this time?
(3) Long-term holders (wallets that have held for more than six months) continue to accumulate Bitcoin at a record level, and their total balance hit a monthly high of 391,000 BTC this week
(4) Interest rate cuts and water release are imminent, and there will be more funds in the market
Current bearish factors:
(1) The last time Mentougou released more than 80,000 BTC, it continued to cause selling pressure, and more than 30,000 BTC have not been released and resolved
(2) The breakdown of Israeli-Palestinian peace talks and Iran's involvement have caused a wider range of conflicts
The non-agricultural data will be released at 8:30 pm next Friday, which should be normal
It is possible that it will be significantly weaker than expected by 30%. If this happens, the interest rate will be cut by 50 basis points in September
Currently, the interest rate is expected to be cut by 25 basis points in September
Don’t panic too much, it’s close to the bottom. If it falls, control your emotions and don’t sell at a loss.
Many coins fall for a month and can be pulled back in a few days.
From now until the end of September, it is likely to continue to fluctuate to digest the selling pressure of Mentougou.
