The number of Binance users has exceeded 200 million. What does this mean? Let’s take a look at the number of users of several well-known national-level applications.

The 10-year yield has fallen about 30 basis points in the past 5 days on the back of downward GDP revisions, tame PCE, a decline in ISM manufacturing, and another drop in JOLTS job openings (the lowest level since 2021).

The short-term 30-day correlation between the Nasdaq 100 index of US tech stocks and Bitcoin has reached its highest level since the beginning of 2023, which indicates that when the stock index rises further, Bitcoin will follow the general trend.

I have said before that you should not worry about the rise of US stocks and the non-rise of Bitcoin. After all, the rise of US stocks has a spillover effect on Bitcoin. You should worry about the fall of US stocks when Bitcoin does not rise.

Bond traders are betting the Fed will start cutting rates in November

This week is an extremely important week for Bitcoin. There are only 6 days left for the bulls. After 6 days, the technology will change and further breakthroughs will be needed to resolve it.

For the specific reasons, please see the video just released.
#5月非农数据即将公布

After the PCE data last night, the overall risk market did not react normally. The logic of the first half and the second half were different. In the short ten minutes after the data was released, the first reaction of a force was good for the risk market. The US dollar index fell and Bitcoin rose, but it was obvious that this force was very small.

After the start of the second half, that is, the reaction of Wall Street generally believed that such data was not enough and was not enough to affect the Fed's interest rate decision, so the previous low expectations for interest rate cuts were maintained. Expectations did not rise because of yesterday's PCE data. This is what the Fed wants to see, and it also shows that their constant expectation management is working.

In addition, if you are clear about the release time of the US heavy macroeconomics, you should know what Wall Street is waiting for, because next week there will be a series of labor market data releases, such as job vacancies, ADP employment report, and the most important non-agricultural data. The importance of non-agricultural data is now almost equal to inflation data. Why? Because Fed officials have repeatedly mentioned that inflation data must be seen to decline for at least three consecutive months before it is enough to change policy, unless there is a significant decline in employment, so the market wants to be conservative and stable and wait for next week's labor market data.

The next week will be the FOMC meeting. After this meeting, the dot plot will be released. At that time, the Fed will see the forecast of several rate cuts this year from the dot plot.

The current expected downturn is not a bad thing. It will be easier to have surprises when the time comes. $BTC #美国4月核心PCE指标显示通胀放缓

Biggest ETF outflows in more than a year warn of China's stock rally

Stock ETFs in Shanghai and Shenzhen saw a combined $4.2 billion pulled out in the month ended Monday, according to Bloomberg data. That's more than investors put into the funds in the previous two months.

Funds with the biggest outflows this month include the CSI 500 ETF, which lost $977 million, and the Huatai CSI 300 ETF.

Last night, New York Fed President Williams leaked that he already knew the PCE data and predicted that the personal consumption expenditure price index inflation rate will continue to decline, falling to about 2.5% by the end of the year and eventually reaching 2% in 2026.

Bitcoin price is in a bullish arrangement before a breakout.

Once this data came out, the Federal Reserve no longer dared to talk about raising interest rates.

$BTC In terms of Bitcoin spot ETF shares, Grayscale has been eroded by BlackRock. Now BlackRock's share has exceeded Grayscale.

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