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《Last night's CPI data was positive, but the market fell instead?》
There are 4 specific reasons!
1. The Fed's interest rate hike expectations are high, and the probability of the Fed's 25 basis point rate hike in July is as high as more than 90%. This expectation has exerted great pressure on the cryptocurrency market. Because interest rate hikes mean monetary tightening, market liquidity may decrease, which is not conducive to the performance of risky assets such as cryptocurrencies. Determination to fight inflation: Even if the CPI data is lower than expected, the Fed's determination to fight inflation is still strong, which reduces the risk appetite of the cryptocurrency market, and investors may choose to sell to avoid risks.
2. Market liquidity issues accelerate the departure of funds: Recent liquidity data shows that funds in the currency market have not continued to enter the market, but have shown signs of accelerated departure. This has led to a lack of sufficient financial support in the market, making it difficult to maintain the rising market. Short-term capital fluctuations: Although there are sometimes short-term capital inflows (such as Wall Street's crazy application for BTC Trust ETF from June 16 to June 21), these funds are often short-term and insufficient to support the long-term upward trend.
3. Market sentiment and investor behavior Market sentiment is low:
After the release of CPI data, although the data itself is positive, market sentiment may remain low due to other factors (such as the Fed's interest rate hike expectations, poor market liquidity, etc.). This leads to insufficient investor confidence and choosing to sell instead of buying.
4. The impact of other market factors Regulatory risk: The cryptocurrency market has always faced regulatory risks. Changes in regulatory policies may have a significant impact on market sentiment and investor behavior. When regulatory risks increase, investors may choose to sell to avoid potential risks.
Nevertheless, expectations for a rate cut in September are stronger, so the market outlook remains optimistic.
Short-term volatility BTC is still expected to continue to rise, with the target directly pointing to 58,000.
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