June & July will be red months for crypto
#ratecuts #TopCoinsJune2024 #BTC
I think overall Crypto market is bearish for june & july until August beginning. After US unemployment report we cannot expect a rate cut soon. As Jerome Powell said inflation down to 2% is also not enough. It should be consistent for some time. So we cannot expect a near rate cut. Even the next reports are positive, we cannot expect a rate cut in july. We need at least 2 month consistent reports tell inflation is gone. So its not July, should be after the August. Due to upcoming elections, most probably rate cuts will be November or 2025 beginning. With ongoing wars US debt & other economic conditions, I'm sure no near rate cuts. So this month is definitely a red for crypto. Most probably July will be neutral đ. BTC seems quite resistance for both sides. I don't expect it to break 69k resistance level soon. Breaking previous ATH is quite difficult. So its not in June or July.
Best thing to do this month is stay away from futures and not long on crypto assets. Also not enter the short possitions. Best thing to do is trade on Spot. I would only buy Alt coins with upcoming events or news. No any other major coins accumulation. That's my strategy for these 2 months. What's your?
