A new week has begun.
Last week we waited for the PCE data,
and this week we have to wait for the non-farm data to be released on Friday.
Before the release of major economic data, big funds will not act rashly.
So we see that BTC is currently trading sideways and falling slightly,
and last night it plunged downward in panic.
From the on-chain data, it is bearish
(1) Stablecoins have been flowing out of exchanges for 7 consecutive days, close to the value of May 14, and funds on the exchange are withdrawing
(2) From yesterday to today, more than 3,000 BTC have flowed into exchanges
In terms of the international situation, Israel and Hamas have begun to negotiate peace, which is good news.
But Europe and the United States have authorized Ukraine to use military aid to attack Russia's homeland, which is bearish.
From a big cycle perspective, we are currently on the eve of the Fed's interest rate cut cycle.
The day after tomorrow is beautiful, but tomorrow is cruel, and many people will fall tomorrow.
This includes abnormal economic data, the Mentougou incident, war conflicts, etc.
Value coins should be held patiently.
Caishen has created a high-quality circle. If you want to know more about the relevant knowledge of the currency circle and first-hand cutting-edge information, click on the avatar to follow Caishen. Caishen publishes market analysis and recommends high-quality potential currencies every day.