The key to the success or failure of Bitcoin's counterattack lies in the highlight at 8:30 tonight!
Last night, we experienced two major events. One is that the US PPI data for April was higher than expected, which was slightly bearish; the other was that Fed Chairman Powell repeated his old tune and made a very "scumbag" speech, saying that he would not raise interest rates or cut interest rates as soon as possible.
After the release of the PPI data, Binance broke out a trading volume of more than 4,000 bitcoins in 1 minute, but the overall decline was not large, mainly because the altcoins had more pullbacks.
The CPI data for April will be released at 20:30 tonight. This is the highlight. Will it be a fatal blow to Bitcoin, or will it cause a deep V reversal and break through 70,000 US dollars again?
I rehearsed the possible "plot":
If the expected CPI value tonight is 3.4%, which is lower than expected or in line with expectations, it will be good for Bitcoin;
If it exceeds expectations, it will be bearish. The CPI in February and March are both above expectations. The value of the previous period was 3.5%.
Well, pay attention to Mengge, continue to interpret for you, and surpass others with cognition!
