Crypto market analysis 6.1

PCE had another positive event after April. The strongest inflation index reached its lowest level in three years. After the data was released, the three major U.S. stock index futures rose in the short term, and U.S. bond yields dropped significantly. Pricing in the interest rate swap market remains stable, with at least one rate cut by the Federal Reserve expected in 2024.

However, the Federal Reserve is still lowering everyone's expectations. The probability of suspending interest rates in June is 100%. The market will still fluctuate at a large level without the arrival of funds. Just slowly eat up chips within this fluctuating timeline. .

Daily level market

- The daily level is still a weak downward trend. The daily large level has been fluctuating. After the capital inflow, it slowly needs to build a bottom. At the bottom, just focus on the large levels 66600, 66200 and 65200.

4 hours level market

The 4-hour level will be repaired in the short term and is still volatile. The upper pressure is around 69,000, the lower support is around 66,600, and the latest pressure is around 68,000.