Today, although the price of $BTC has been somewhat volatile, the US stock market has also experienced some fluctuations. This may be due to the numerous macro events this week, leading to a sense of risk aversion among some investors. However, even so, the extent of the volatility is not significant. I currently have no interest in entering the market, as there are too many uncertainties this week, and the gambling aspect is a bit high, which is not suitable for me.

Therefore, I do not plan to enter the market under these circumstances unless there is a significant drop. Right now, the price is fluctuating around $117,000, and there is no strong pessimistic sentiment. As we have mentioned, the main factors in the current market are tariffs and monetary policy. The tariffs have basically been implemented, the most challenging issues for the EU have been successfully addressed, and China has also delayed for 90 days, so there are basically no problems with tariffs.

The remaining focus is on monetary policy, and there are recent earnings reports, as well as PCE and non-farm payroll data. It is highly likely that there will be no interest rate cuts in the July meeting, and everyone is betting on whether Powell will discuss the September issue.

Looking at Bitcoin's data, the turnover rate is not very high, mainly involving short-term holders. There has not been much change among early investors. The overall market sentiment remains relatively stable, with everyone waiting for Powell's speech, but there has been no change in market trends.

Support levels are also very stable, and there is currently nothing to worry about. The first data to be released will be from the interest rate meeting early Thursday morning, followed by the PCE in the evening, and then the non-farm payrolls on Friday. There will be some fluctuations over these two days.

Data link: https://docs.google.com/spreadsheets/d/1E9awSVwrVOxKOiaMdYT5YZvfveeFd9ENU-iO6dVcGj0/edit?usp=sharing

This article is sponsored by #Bitget ｜ @Bitget_zh

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