Nowadays, we should focus more on timing for making money, with value as a supplement, and observe the global economic situation 👇
1. Global economic growth is slowing and is unbalanced.
After 2023, the momentum for global economic growth continues to decline. Although the global supply chain is gradually recovering, the production climate is gradually falling back, and the role of domestic demand in driving the economy is weakening. Regionally, the growth pattern mainly shows 'strong in the U.S. and Japan, weak in Europe and emerging economies in the Asia-Pacific.' Looking ahead, the world economy is expected to grow slowly over the next five years, and the entire global economy is in a state of extreme uncertainty and fragility.

A cryptocurrency market traffic report from CoinShares shows traders are more confident in XRP and Solana. In the week ending September 24, virtual currency investment products experienced capital outflows for the sixth consecutive week. According to data from CoinShares, digital asset outflows from crypto investment products reached $9 million last week. BTC experienced outflows for the third consecutive week, reaching $6 million last week. Bitcoin short positions saw $2.8 million in outflows. Ethereum (ETH) has experienced a sixth consecutive week of outflows, with $2.2 million flowing out last week. On the other hand, alternative coins such as XRP and Solana saw inflows of $660,000 and $310,000 respectively. The report states that investors are increasingly interested in the alternative currency space as XRP and SOL continue to see inflows. The report also showed a divergence in sentiment among traders in Europe and the United States based on activity in different regions. Cryptocurrency investment products in Europe saw $16 million in inflows, while U.S. products saw $14 million in outflows. This regional disparity is due to uncertainty around cryptocurrency regulations and recent actions against cryptocurrency companies by the U.S. Securities and Exchange Commission (SEC). The report shows that average weekly trading volume fell below $820 million, well below the 2023 average of $1.16 billion. CoinShares’ recent Digital Asset Liquidity Market Report reflects the current market sentiment, with the market facing bearish pressure. Bitcoin price is currently stuck below the key resistance level of $27,000, having been largely idle since the U.S. Federal Reserve’s recent decision not to raise interest rates this quarter. Meanwhile, delays in payouts from Mt. Gox’s creditors also played a crucial role in last week’s price action, but BTC has mostly remained unaffected by these two key market events.

In the development wave of the global cryptocurrency market, Israel's role has become increasingly prominent. The Middle Eastern country’s relationship with digital currencies is fraught with opportunities and challenges. 1. The secret war between Hamas and Bitcoin The conflict between Hamas and Israel is not limited to traditional battlefields. Hamas has begun using cryptocurrencies such as Bitcoin to circumvent international sanctions and raise funds. This strategy allows Hamas to move funds around the world without the constraints of traditional financial systems. Israel is working hard to crack down on these illegal transactions and try to cut off Hamas's source of funding. 2. Ambivalent attitude of Israeli banks Despite the widespread attention and acceptance of cryptocurrencies globally, mainstream banks in Israel still have a conservative attitude towards them. They refuse to accept cryptocurrency deposits, which makes cryptocurrency investors face huge difficulties when it comes to paying taxes. This situation not only affects the interests of investors, but also causes the Israeli government to lose a large amount of tax revenue. 3. The government’s open attitude In sharp contrast to the banks’ conservative attitude, the Israeli government has a positive attitude towards the development of cryptocurrency and blockchain technology. They have begun to formulate relevant laws and policies to support the development of this emerging industry. For example, Parliament has passed a bill on first reading that aims to provide tax incentives for cryptocurrencies and blockchain technology. 4. Legal Framework for Cryptocurrencies Israel is working to incorporate cryptocurrencies into its existing legal framework. This is not only to regulate the market, but also to protect the rights and interests of investors. Regulators believe that embracing the cryptocurrency industry will bring huge economic opportunities to Israel. 5. Geopolitical Impact Geopolitical events in Israel have had a profound impact on its financial markets. As regional tensions escalate, investors may turn to safer haven assets such as gold and cryptocurrencies. This could further drive up cryptocurrency prices and trading volumes. Conclusion aThe relationship between Israel and cryptocurrencies is complex, but also full of opportunities. As cooperation between the government, banks and the private sector deepens, Israel is poised to achieve greater breakthroughs in the cryptocurrency field.

Data once again strengthens soft landing expectations, the Fed may no longer need to raise interest rates

Today's U.S. macro data once again confirms the economy's soft landing tendency. The actual personal consumption expenditures in June recorded a monthly rate of 0.4%, higher than the expected 0.3%. At the same time, the PCE monthly rate recorded 0.2%, and the core PCE annual rate recorded 4.1%, both lower than the previous value. On the other hand, the labor cost index also softened in the second quarter, with an increase of 1% in the second quarter, down from 1.2% in the first quarter. More importantly, Powell also mentioned this indicator in a press conference before. At the same time, the slowdown in wage growth and employment benefit growth also shows a cooling of labor costs, which is also consistent with the remarks in the Federal Reserve's Beige Book that wage growth in many regions is returning to or approaching pre-epidemic levels. Overall, these data should give investors more confidence that inflation is on a continued slowing trend, that inflation can effectively return to the 2% target, and that the Fed does not need to tighten policy further. (The above views are from ING Bank and are for reference only)

A new bearish pattern is currently emerging in Bitcoin price action, which indicates that Bitcoin may fall below a new one-week low in the coming days. Bitcoin price is struggling to remain above $29,200 after failing to stabilize above $29,400. A new bearish wave may be triggered soon, and Bitcoin may fall below the key support level at $28,800. Although Bitcoin price has recovered recently, it is still under a bearish influence, so the upward momentum appears to be limited.

1. Short-term technical analysis (see chart above):

Bitcoin price triggered a bullish wave a few days ago but has now turned lower and wiped out all the gains. Its price is currently hovering at the 23% Fibonacci retracement level and is testing one of the important resistance levels at the 20-day moving average, which is $29,236. Meanwhile, Tieba price has suffered several declines at this level since early trading, suggesting a bearish reversal may be imminent. If Bitcoin price fails to hold key support, it could soon plummet to the 0% Fibonacci level at $28,872.

The Fed’s rate hikes no longer affect Bitcoin, and it seems increasingly unlikely that Bitcoin will experience large fluctuations in the short term, with most Bitcoin white whales neither selling nor buying more assets.

Bitcoin seems less and less likely to see big moves in the short term

At the start of the Asian session, Bitcoin was trading just above $29,240, down 0.3% over the past 24 hours.

Since mid-June, Bitcoin's price has fluctuated between $29,000 and $31,800, unaffected by rate hikes, inflation fears and other macro concerns. Brent Xu, CEO and co-founder of Web3 bond market platform Umee, said the status quo is likely to continue.

Bitcoin has had a lackluster performance in the cryptocurrency market this week. The crypto community, which has an accuracy rate of 84.46%, predicts that Bitcoin will face a decline. Can the positive news of Bitcoin’s “halving” be realized?

Bitcoin fever fades again

Bitcoin has had a lackluster performance on the cryptocurrency market this week, down around 2.2% over the past seven days. Monday's 3% drop set the stage for a tepid week, with less hawkish comments from the Fed failing to shore up risk sentiment.

Currently, Bitcoin price is below the 30,000 to 31,000 channel favored for much of July, indicating a decline in optimism in the crypto market.

Wall Street "accused" Powell of practicing Tai Chi and contradicting himself! As the Fed's interest rate hike cycle comes to an end, it is becoming increasingly difficult to judge the future path of interest rates, but no matter what, the Fed is the "boss" of the market.

On July 27, the Federal Reserve raised interest rates by 25 basis points, bringing the federal funds rate target range to 5.25-5.5%, and continued to shrink its balance sheet as planned. The FOMC's statement was almost unchanged, with members unanimously agreeing on the interest rate decision.

The policy statement shows that the Federal Reserve believes that economic activity is expanding at a moderate pace; employment growth is strong and the unemployment rate remains low; inflation is rising, and it is highly concerned about inflation risks. Going forward, the Fed will continue to evaluate more information and reiterated that it will take into account the cumulative tightening as well as the lagged effects.