Bitcoin ETF ends eight consecutive declines, and the market rebounds!
CPI may be the highlight tonight!
This morning, the price of BTC soared to 58,000. Although it subsequently fell back, don't ignore the key signal! Bitcoin ETF ended eight days of capital outflows, with a net inflow of up to $28.6 million, reversing the previous huge outflow of $1.2 billion. This turn marks a change in the attitude of traditional institutional funds and injects a shot in the arm to the market.
The CPI data will be released tonight, and it is good news if it is lower than expected
Higher than expected is also a positive, because this data only determines: whether the interest rate will be cut by 50 basis points or 25 basis points
The data released by the United States last week were not very good, reflecting the sluggish U.S. manufacturing industry. U.S. stocks also fell, with many major technology stocks falling by more than 10%. This has made many people look forward to an early interest rate cut.
In addition, there is a silent period before the policy decision is made on the 18th . The launch of copycats is after the BTC starts to rise. At that time, capital will choose the direction. When it is neither going up nor down, it is the time for the market to bet.
Now we are waiting for the final decision on the US dollar trend. If this week's data confirms the market's view that the Fed will cut interest rates by 25 basis points in September, then in the short term there will be overly aggressive speculation on the pricing of interest rate cut expectations, and the US dollar index may further strengthen.
But for now, market pricing is oscillating between scenarios of a 25 basis point and a 50 basis point rate cut - sentiment is very volatile - which could make moves in global markets random.
Therefore, it is normal to have a big drop or a big rise and a margin call at the moment . The important thing is to survive first. Only when you have funds in hand can you seize the opportunity! Don't worry too much about other things.
The fourth quarter of 2024 and the first quarter of 2025
There may be a wave of opportunities for Bitcoin for four reasons:
- Although the interest rate cut is not QE, the activity of funds in the market is expected to increase
2. The general election, in which presidential candidates publicly support cryptocurrencies and make promises
3. The BTC halving effect has not been proven to not happen
4. The new version of FASB will take effect in December 2024, when cryptocurrencies will be able to adopt fair accounting standards and implement fair valuation in financial aspects.
It is worth noting that on April 19, 2024, Bitcoin will undergo its fourth halving. In the past, Bitcoin halvings would often be followed by an increase in Bitcoin prices, but this time the market was rather special. On the day of the halving, Bitcoin prices fell instead of rising, and the performance was not satisfactory, leading to market comments that the Bitcoin halving effect may be ineffective.
BTC's market share has peaked, and funds have begun to flow into Altcoin. After this wave of adjustments, the fourth quarter may be the explosive season for small Altcoin.
The most popular currency before the bull market arrives
PEOPLE
Another dark horse in this round of bull market, but the recent trend is not satisfactory. Due to its large price fluctuations and unpredictable trends, investors in contracts and spot have suffered heavy losses. The risk is high and the return is huge. Friends in the car should pay more attention. However, Meme concept coins are like this. Although the fluctuations are huge, they are still loved by many investors. Judging from past performance, PEOPLE is definitely a strong coin!
WIF
Memecoin has always been hotly debated for its Internet cultural roots, and WIF is no exception. With the backing of Solana technology, WIF has shown the potential to explode in this round of market cycles. In addition, WIF is active in the SOL ecosystem, especially during the bull market, and its performance is particularly strong. With an active community and a large number of large investors, WIF's growth logic is better than other Memecoins and is worth paying attention to!
BONK
BONK is based on the SOL chain and belongs to the SOL ecosystem. It can access high-quality DeFi applications, NFT markets and game platforms, and has multiple application scenarios. The market value is 1.233 billion, which has fallen by more than 60% from the high point. It is suitable for long-term holding, and the goal is to double!
This is the end of the article. I will do a more detailed analysis in the communication group. If you want to join my circle, please contact me directly through the WeChat below!
