Yesterday morning the Federal Reserve released the minutes of the June FOMC meeting.
Almost all officials feel that interest rates need to be raised to continue fighting stubborn inflation.
Supporters of raising interest rates point to a very tight labor market, stronger-than-expected economic momentum and no evidence that inflation will gradually return to the 2% target. The probability of another interest rate hike on July 26 is close to 90%.
The World Meteorological Organization confirmed on July 4 that El Niño conditions have formed in the tropical Pacific region for the first time in seven years, which means that global temperatures may rise further and destructive weather and climate patterns will increase.
The temperature in some parts of North Africa is close to 50℃, and even in some parts of Antarctica, which is in winter, the temperature has reached 8.7℃.
Simply put, this will lead to rising prices -> inflation -> higher interest rates.
On-chain data:
(1) The proportion of giant whales did not increase further
(2) The stock of stablecoins in the exchange has not increased. In the past few days, we have been emphasizing the need to stop profit in batches. BTC will remain volatile, mainly depending on the release of tomorrow's non-agricultural data.
If the non-farm data released at 8:30 tomorrow night is lower than expected, it may break through 31,000, but it will be difficult to rise without further positive stimulus.
Currently, we recommend a 30% position in Bitcoin and ETH, and a 10% position in altcoins.
