Today is Tuesday, June 11, 2024. First of all, the news, since the negative news of non-agricultural data last week, the market is really a mess. After the Dragon Boat Festival, everything is gone. It stands to reason that the non-agricultural data will not have such a big impact, because we can see that the US stock market is still strong, so it can only be attributed to the black swan event or the joint harvesting and smashing of the market by the doctrine. At present, everyone is waiting for the CPI data and the Federal Reserve FOM meeting on Wednesday night. After these two major events, I believe the situation will be slightly clearer. In the past two days, everyone's state is that everything looks like garbage. The market is cleaned very strongly, basically 95% are falling, but there is no obvious negative news. It's difficult. Next, let's take a look at the on-chain data. The on-chain data shows that long-term Bitcoin holders have begun to accumulate. Since the middle of last month, some big players have noticed something and are constantly collecting Bitcoin. Then we refer to the performance of the historical cycle and can see that short-term holders will always increase with the rise in Bitcoin prices, and after Bitcoin reaches the highest point of the cycle, this group will account for more than 70% of the realized market value. Now we only see 41%, so Bitcoin 73,000 is not the end. At present, the area where short-term holders are more active is about 6.6-6.9w, which shows that everyone is still optimistic about Bitcoin in the long term, because they will never choose to sell it at around 10cm, so they must be aiming for a higher goal. At present, Bitcoin finally stood at 70,000 a few days ago, but now it has started to go downhill again. There is another piece of information that deserves our attention. The ETF market has maintained net inflows for half a month. In addition to the United States, Hong Kong, the United Kingdom, and Australia, Thailand has also approved the first spot Bitcoin ETF. This goes back to the original problem. Most people will follow the footsteps of the Americans and follow up and launch spot ETFs accordingly, otherwise they may be left behind. Japan and South Korea may follow suit next. At that time, Bitcoin will reach a new level. #非农就业人数高于预期 #美联储利率决策即将公布