Last night, the CPI data was released. The previous value was 2.9%, the expected value was 2.6%, and the announced value was 2.5%, which was lower than expected. In theory, it is a big positive! At present, the biggest consensus for the Fed's interest rate cut on September 18 is 25 basis points. A few days ago, I saw a 24% probability of betting 50 basis points on the betting website over the weekend, but yesterday it was only 9%, leaving a 90% probability of 25 basis points.
Biden and Harris have reached some compromises on energy issues. Trump actively supports electric vehicles, and Harris has a major change in his attitude towards the traditional oil industry. Harris has also begun to support the development of shale oil. The consensus of both sides is to lower US oil prices.
No matter which side comes to power, it is not good news for oil prices, but it is good news for the cryptocurrency world!
All the important economic data before the Fed's first rate cut have been released, and the conclusion is that inflation continues to cool down, the economy may be in recession, and a rate cut is necessary.
Next Thursday, September 19 at 2:00 a.m., the Federal Reserve will hold its interest rate meeting.
The decision will be whether to cut interest rates by 25 basis points or 50 basis points.
In addition, there may be two more rate cuts this year.
Is Bitcoin expected to break out of the bottom area? In the volatile market, should we buy the dip?
In the market, after the release of CPI data yesterday, the price fell all the way to US$55,545 and then quickly rebounded to cover the losses. Today, the highest point during the day has reached around US$58,500.
The market is still dominated by shocks, and it is considered a rebound before it breaks through 62000. The short-term pressure level is around 59200, the extreme pressure can be seen around 60500, and the bottom support is around 54800.
The decline of Bitcoin in the past week has shown signs of fatigue. It can also be seen from the fact that copycats did not follow the decline and took off as soon as there was a rebound that the funds in the market are very confident about the future market.
Now everyone is just waiting for an opportunity, and the Bitcoin ETF continues to see capital inflows, with 117 million inflows in a single day, which has completely ignited the market. It's like the signal of smashing a cup. The insiders have long wanted to pull up the market, but the external funds, that is, the ETF, have not been cooperating. After two consecutive nights of positive capital inflows, the market pulled up the market.
Last year, the rally also started in October. This is the last chance to get on board. Witness history and cycles. Good opportunities are not always available. It takes the right time, right place, and right people. For those who have gotten on board, don’t liquidate easily. You can reduce your position but there is no need to liquidate. At least be patient this week!
The only suggestions for spot trading are mid-term position control and reverse spread (sell when the market continues to rise, buy when the market continues to fall). A sharp drop is the best opportunity, and the only thing left is short-term trading. Do not blindly chase the rise and fall. The market has adjustment expectations, so it is recommended to lower excessive profit expectations and operate prudently.
Hold on to the high-quality assets in your hands and remind your brothers that the big one is coming.
This rebound must be on the car
For the copycat: Ai Defi gamefi Rwa MEME old coins Binance 22 will launch new ones after these sectors focus on layout
MEME and Inscription Tracks:
WIF: WIF belongs to the SOL ecosystem. Every time the market comes, it is the most active among the big exchanges. Its activity level exceeds that of BOME. Judging from the strong logic alone, the increase of WIF appears to be better. There are many big households in the community and the main players are rich.
SATS, pizza: The inscription produced a wave of wealth effect from October to February last year, and it has been 7 months so far. Sats and pizza are both expected to be enabled by the inscription, and the application scenarios are also rich, thanks to the support of unisat.
In the next phase of the copycat market, the two are expected to become the strongest currencies in the inscription sector.
AI Track:
vanry: Layer 1 + RWA + games + AI, there are a lot of concepts, haha, but I think this project is very good at making things happen, the marketing is first-class, and the market value is not high. Lao Chen bought it at the bottom of the first half, and has experienced a roller coaster ride of several times. I continue to be optimistic and have not lost much so far.
Wld : This coin was a hit in the first half. I also sold more than 9u of my principal. The coin also experienced the sharpest correction during the halftime break. It is rumored that OPENAI will make some moves at the end of the year. Although it is being unlocked continuously, it has now fallen to the bottom before the start of the first half. Don’t be hostile. There is no coin that keeps falling.
AI will be popular by then.
Staking:
Priority: BB, LISTA, ETHFI, SSV
These are the currencies that Lao Chen currently holds.
BB and lista are Binance’s new IEO projects. I have commented that the projects are good but lack sufficient wash-out. Now I think the wash-out is almost done and there will be no problem with a wave of market!
The SSV coin was one of the first to discover value on the entire network. In December 2022, it was deployed at around 10u, and gradually sold out at around 20 to 30. At the beginning of this year, the principal was sold at 47u.
The pledge belongs to the bull market engine series. I think it is okay to hold it at this price.
