HTX DeepThink: Long positions increase to boost Bitcoin, non farm employment data may become a key watershed

BlockBeats News: On July 3rd, Chloe (@ Chloe Talk1), a researcher at HTX Research, pointed out in her DeepThink column that Bitcoin has recently risen to $109500, mainly driven by a 10% increase in open interest contracts (OI) in the futures market to $3.2 billion, with significant new long positions and market activity rebounding. On a macro level, the unexpected decline in ADP data for the US' small non farm payroll '(-33000 people) has boosted the probability of a rate cut in July to 27.4%, and the probability of a 25BP rate cut in September to 64% -72%. The Put/Call ratio in the options market has risen to $0.72104000 as the key support level, with $114000 as short-term resistance. Chloe pointed out that there are two paths in the market's positive game: if the non farm payroll data continues to be weak, it may trigger a new round of Bitcoin's rise; On the contrary, if the data is strong or triggers a technical callback. The current market is in a sensitive period of direction selection.