#Buy Bitcoin on dips#
Hot Topic Overview
Overview
The Bitcoin market is currently showing some stability, with prices rebounding to near $95,000, supported by bargain hunters. However, the upcoming US non-farm payrolls report will test this rebound. Stronger-than-expected employment data could intensify concerns about the Fed's hawkish stance, further pushing up bond yields, which would be negative for risk assets. On the other hand, if the employment data is weak, it could trigger market expectations of a Fed rate cut, which would be beneficial for risk assets. Additionally, the US government's large holdings of Bitcoin could also influence market movements. Overall, the Bitcoin market is currently at a critical juncture, and investors need to closely monitor upcoming economic data and Fed policy developments.
Ace Hot Topic Analysis
Analysis
The Bitcoin market is currently showing some stability, with prices rebounding to near $95,000, supported by bargain hunters. Recently, Bitcoin prices tested the long-term support zone of $90,000-$93,000, which has successfully prevented at least six declines since the second half of November. However, the upcoming US non-farm payrolls report will test this latest rebound. The report is expected to show an increase of 164,000 jobs in December, compared to 227,000 in November. A stronger-than-expected jobs report could exacerbate concerns about the Fed's hawkish stance, further pushing up inflation-adjusted bond yields, which would put pressure on risk assets. On the other hand, if the jobs data is weak, it could trigger market expectations of a Fed rate cut and shift market sentiment significantly in favor of risk assets. Therefore, the direction of Bitcoin prices will depend on the specific data in the jobs report and expectations for the direction of Fed policy.
Public Sentiment · Discussion Word Cloud
Public Sentiment
Discussion Word Cloud
Classic Views
Bitcoin buyers on dips played a supporting role in the recent market volatility, helping prices rebound to near $95,000.
The upcoming US non-farm payrolls report will have a significant impact on the price of Bitcoin. Stronger-than-expected employment data could exacerbate market concerns about the Fed's hawkish stance, pushing up bond yields and hurting risk assets, including Bitcoin.
If the employment data is weak, it could trigger market expectations of a Fed rate cut, which would be beneficial for risk assets, and Bitcoin could attempt to break through $100,000 again.
The US government holds a large amount of Bitcoin, and its selling activity could have a significant impact on the market.