🚨Bitcoin engine stalled?
! Ups and downs
BTC price once fell below $66,000! 💥
Bitcoin experienced a "roller coaster" market last week, and volatility once again refreshed our cognition! 📉🔄
✨ Dramatic Weekly Review
1. Bitcoin price plummeted due to the US employment report, and spot ETF funds outflow exceeded $200 million! 💸
2. After the price fell to $66,000, it rebounded to $70,000 on the 12th due to the CPI cut! 📊💥
3. After the Fed's FOMC meeting, the benchmark interest rate was frozen, the market's expectations for rate cuts weakened, and Bitcoin fell to $67,500 again! 📉
4. The PPI data on the 13th was lower than expected, and the price of Bitcoin soared instantly, but failed to continue to rebound, but fell 2% instead! 🔻
🔥 PPI positive turned negative, and Bitcoin's attractiveness declined? !
This year's Bitcoin market can be said to follow the expectation of US interest rate cuts. It rises when there is good news and falls when there is bad news. PPI should be a good thing, but it has made Bitcoin "out of favor". Investors have invested their funds in the more stable stock market, and Bitcoin fell nearly 5% in the second quarter! 📉📈
🔍 The future trend is confusing
JP Morgan said that the inflow of funds into Bitcoin spot ETFs may slow down, which will become a potential factor for price declines. At the same time, it is also worth paying attention to whether the Bank of England will join the G7 in cutting interest rates. Global interest rate cuts may be good for Bitcoin, but uncertainties are still increasing in the short term. 📉💰
This week, pay attention to the UK interest rate decision and the number of new unemployment benefit applications in the United States to see if Bitcoin can usher in a new rebound opportunity. 🌍📊
👉 Investment is risky, so be cautious when entering the market! I wish you all a smooth investment! 💪🚀
