"Why is it likely that BTC will plummet again?" 》
PMI data exceeded expectations last night, causing BTC, which had just rebounded, to fall further. The U.S. dollar index surged, and U.S. Treasury yields also rose, marking the largest single-day rise this year.
PMI exceeded expectations, providing further evidence for the Federal Reserve to maintain high interest rates to fight inflation.
Originally we all thought that interest rates would be cut in June, but the CPI released in mid-March and the PMI released yesterday exceeded expectations. According to economic data, last week Powell stated that there was no rush to cut interest rates.
Therefore, the probability of a rate cut in June is currently less than 50%.
The Fed is hawkish again!
Fortunately, current on-chain data shows that whales are still hoarding coins. Tether, the company that issues USDT, bought 8,888 BTC in the first quarter. The risk of BTC plummeting again is small.
At present, the focus is still on defense, and be careful of Friday's non-agricultural data. The crux of inflation in the United States lies in the hot labor market, with non-agricultural data and industrial data released at 8:30 pm on Friday.
If it still exceeds expectations, there will be another drop.
If it is lower than expected, the currency circle will launch a comprehensive counterattack.
At present, we need to lower our expectations, defend more and attack less. We currently recommend a 6-level position.
Brothers with too large contract positions should be cautious and try to reduce leverage. In trading, living a long life is much more important than temporary gains and losses.
As long as the chips are still there, there are endless opportunities. I am afraid that if I leave the poker table after the liquidation, there will be no chance.
I am the God of Wealth, a veteran in the currency industry, and I only tell the truth. If you are interested in the currency circle and want to get started quickly but feel confused, please follow me and contact me through the homepage. I will provide you with real, valuable advice to help you move forward steadily. Let’s explore, grow and create brilliance in the currency circle together!
