#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 US non-farm payrolls report due out on Friday will test the market. If the jobs data is stronger than expected, it could intensify concerns about the Fed's hawkish stance, further pushing up bond yields, which would be negative for risk assets. Conversely, if the data is weak, it could trigger market expectations of a Fed rate cut, which would be beneficial for risk assets. Additionally, the US government holds a significant amount of Bitcoin, and its selling activity could also impact market movements. Overall, the Bitcoin market is currently in a critical period, and investors need to closely monitor the jobs data and Fed policy developments.
Ace Hot Topic Analysis
Analysis
The Bitcoin market has seen some stabilization, with prices rebounding to near $95,000, as order books show dip buyers. Recently, Bitcoin prices tested the long-term support zone of $90,000-$93,000, which has successfully prevented at least six dips since the second half of November. However, the upcoming US non-farm payrolls report will test this latest rebound, with expectations for 164,000 new jobs added in December. A stronger-than-expected jobs report could exacerbate concerns about a hawkish Fed, further pushing up real yields and complicating the outlook for risk assets. On the other hand, if the data is weak, it could trigger market expectations of Fed rate cuts and shift market sentiment significantly in favor of risk assets. Therefore, the future direction of Bitcoin will depend on the outcome of the jobs data and the Fed's policy stance.
Public Sentiment · Discussion Word Cloud
Public Sentiment
Discussion Word Cloud
Classic Views
Buyers on dips are supporting Bitcoin prices, but key US jobs data could impact the market.
Strong jobs data could exacerbate concerns about the Fed's hawkish stance, further pushing up bond yields, which would be negative for risk assets.
Weak jobs data could trigger market expectations of a Fed rate cut, shifting market sentiment in favor of risk assets.
The US government holds a large amount of Bitcoin, and its selling could impact the market.