$ETH ve
$BTC #Gold has started to rise.
Everyone is asking why. Let’s come together and take a look. Actually, the declines began on the US side with the increasing talk about raising rates.
For 2 years, Trump has been pressuring the Fed chair to cut rates, but he remains silent about a rate hike.
The non-farm payrolls data coming from
#ABD caused a shock effect. Along with this data, which came in at nearly 50% below expectations, it also came with an unemployment figure that was just a bit below expectations.
If the unemployment rate had come in far above 4.3%, a recession risk would have emerged.
I think this rise in riskier markets is due to short-term news flow.
On the Fed side, there is still no talk of a rate cut. The only scenario is keeping rates unchanged, at 82.4% for July 29.
I still don’t have an expectation of a rally in the crypto market. In July and August, a needle between 55k and 47k around
#bitcoin is still on the table.
Without closing above 83400, any rise is, in my view, a Dead Cat Bounce.