#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. 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. A stronger-than-expected jobs report could exacerbate concerns about the Fed's hawkish stance, further pushing up real yields, thus complicating the outlook for risk assets. On the other hand, if the jobs data is weak, it could trigger market expectations of Fed rate cuts and shift market sentiment significantly in favor of risk assets, potentially allowing Bitcoin prices to attempt to break through $100,000 again.
Ace Hot Topic Analysis
Analysis
The Bitcoin market is showing some positive signs, with dip buyers helping to support the price, pushing BTC back up to nearly $95,000. However, the market still faces a key test in the upcoming US non-farm payrolls report. If the data comes in stronger than expected, it could exacerbate concerns about the Fed's hawkish stance, further pushing up inflation-adjusted bond yields and putting pressure on risk assets. Conversely, if the data is weak, it could trigger market expectations of Fed rate cuts and shift market sentiment in favor of risk assets, potentially pushing BTC to attempt a break above $100,000 again. Additionally, the US government holds approximately $18.5 billion worth of BTC, and its selling activity could have a significant impact on the market. Therefore, investors need to closely monitor the employment data and the US government's actions to gauge the future direction of Bitcoin.
Public Sentiment · Discussion Word Cloud
Public Sentiment
Discussion Word Cloud
Classic Views
Bitcoin buyers on dips are supporting the market, but key US jobs data will test this rebound.
Stronger-than-expected jobs data could exacerbate concerns about the Fed's hawkish stance, further pushing up real yields and complicating the picture for risk assets.
If jobs data is weak, it could spark market expectations of Fed rate cuts and shift market sentiment significantly in favor of risk assets.
If the data is significantly different from expectations, BTC could easily attempt $100,000 again, provided the US government does not sell a large amount of Bitcoin into the market.