If there is no black swan, BTC will remain strong and is expected to return to $70,000.
It seems that the interest rate cut party is about to restart. Can we continue to play music and dance?
In addition to CPI, more and more data show that the effect of the Fed's interest rate hike is showing.
For example, retail sales stagnated in April and the growth rate was revised down for two months, indicating that Americans can no longer consume.
In the first quarter, US household debt reached a record level, indicating that many Americans are in debt and have difficulty repaying.
However, the probability of a rate cut in September is not too high, because Powell said on Tuesday that
it will take at least one quarter of data to determine whether there will be a rate cut.
Therefore, each subsequent economic data release will bring new variables.
I hope that it will not reverse the expectation of a rate cut and cause a sharp drop in BTC.
On-chain data is still bullish.
(1) The inflow of stablecoins into exchanges continues to increase, and there was still a significant inflow after 8:00 last night.
(2) The inflow of BTC into exchanges is not much, only more than 2,000, and the general trend in recent days is outflow.
The Chicago Mercantile Exchange (CME) plans to launch spot Bitcoin trading,
which marks the further advancement of major Wall Street institutions in cryptocurrencies,
which is good for BTC.
In short, the current positives outweigh the negatives. Before Mentougou releases the news in September this year, it is estimated that there will be another wave of growth. The brothers in the car suggest that you hold on patiently to avoid missing out.
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