The market is fluctuating constantly, currently holding steady at $56000.
BTC ETF has been net withdrawn for 7 consecutive days, yesterday withdrew 200 million USD.
Last night's ADP jobs report showed an increase of just under 100,000 jobs, the fifth consecutive month of slowing growth, further confirming the cooling of the labor market, which is favorable for the Federal Reserve to cut interest rates.
A rate cut in September is now almost certain.
High probability is 25 basis points, low probability is 50 basis points
If it cuts by 50 basis points, that would be big news.
Tonight at 20:30, unemployment rate and non-farm payrolls data will be important
Because the data will determine the extent of the rate cut.
Beware of Overshoot, BTC Drop to $55,000
Progress in solving the "Men Tu Khau" problem has reached 70% after 10 years in the cryptocurrency market
The future of the cryptocurrency market still largely depends on the Federal Reserve's base interest rate
Current interest rates are in the range of 5.25%-5.5%, which could fall below 3% by the end of 2025.
The lower the interest rate, the better for the crypto market
But in the past 2 years, it is very difficult to have a situation like 2021 with 0 interest rates and a big money injection that makes the crypto market surge.
Reduced monetization effect, only local opportunities
Regarding ETF, there have been consecutive net withdrawals for 7 days, yesterday 200 million USD was withdrawn.
BTC has fallen for 12 consecutive days, extremes must reverse
Current recommendation is to hold, shorting or cutting losses at this price is clearly unreasonable.