Although the Federal Reserve has raised interest rates by a cumulative 500 basis points since March 2022, the job market has remained resilient. A survey last month showed consumers were more optimistic about the labor market in June than in May.

The better the employment data, the more courageous the Fed will be to raise interest rates. Therefore, the game point depends on tonight's non-farm payroll data. With ADP's expectations, the market will also have a certain resistance to non-farm payroll data. Of course, the specifics will depend on the data release. .

BlackRock Asset Management has a market value of 9 trillion, and Fidelity has a market value of 4.2 trillion. They are also applying for ETFs. After the ETF approval, the two giant assets entered the market to raise BTC.

70% of the circulating supply of BTC is held by long-term holders for a long time. At present, 92% of the total BTC has been mined

Once the ETF is approved before this bull market. The existing market circulation quantity will face fierce competition.

Whether the ETF passes or not will determine whether this violence will be brought forward. #BTC