Bitcoin suffered a Waterloo as the 9.9 non-agricultural expectations died! Analysis of this week's market trend
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Analysis of Bitcoin news: On Saturday (September 7), the price of Bitcoin closed in an inverted pattern. It rebounded from the low of 52250 after the non-agricultural data and closed at around 54000. Bitcoin fell sharply on Friday, causing 290,000 people to return to the pre-liberation era overnight. The overall performance of the Bitcoin market this week was relatively volatile. Bitcoin reached a high of 60,000 last week, and then fell to 55,500 in the Asian session on September 4. Although it rebounded during the US trading session on Thursday, the price of the currency quickly fell to a low of 52,500 after the non-agricultural data appeared on Friday. This week, investors will usher in US inflation data, which is expected to trigger a big market trend in the Bitcoin market this week.
This week's survey of Bitcoin trends showed a clear divergence between institutional analysts and retail traders on the short-term outlook for Bitcoin. While retail sentiment continues to be bullish, institutional analysts are generally pessimistic and believe that Bitcoin prices may fall further in the coming days. This divergence reflects the market's uncertainty about global economic data and monetary policy. The market's focus will turn to inflation data and the ECB's interest rate decision. The US August CPI data released on Wednesday is expected to be a key factor, while the ECB meeting on Thursday may bring a 25 basis point rate cut. In addition, the US August PPI data and initial jobless claims will also be released on Thursday, further affecting market sentiment. Finally, preliminary data from the University of Michigan's Consumer Confidence Index will be released on Friday. Overall, the Bitcoin market will face the impact of multiple economic data in the coming week, and the Federal Reserve's monetary policy expectations will still dominate Bitcoin's short-term trend. Although analysts have different views on Bitcoin, uncertainty remains the main theme of the market.
