Yesterday, the crypto and Ethereum markets were pushed down by the non-farm payroll data.
However, it’s not a big problem.
From a technical perspective, the 2-day and 3-day charts are still in a bullish pattern.
And the support is very close.
It’s right around 78,500.
On the macro side, although the probability of an interest rate hike has increased,
U.S. Treasury risk has risen further.
Right now, the macro factors are pulling against each other.
The risk in U.S. Treasuries is far greater than whether rates are hiked or not.
I specifically talked about this earlier.
The market will look for assets.
The best assets are gold and crypto.
Crypto being called digital gold is not just a joke.
Recent data shows that anything that raises the probability of an interest rate hike
also raises U.S. Treasury risk.
So overall, whether looking at the long-term trend or the current short-term move, it is bullish.$BTC
However, it’s not a big problem.
From a technical perspective, the 2-day and 3-day charts are still in a bullish pattern.
And the support is very close.
It’s right around 78,500.
On the macro side, although the probability of an interest rate hike has increased,
U.S. Treasury risk has risen further.
Right now, the macro factors are pulling against each other.
The risk in U.S. Treasuries is far greater than whether rates are hiked or not.
I specifically talked about this earlier.
The market will look for assets.
The best assets are gold and crypto.
Crypto being called digital gold is not just a joke.
Recent data shows that anything that raises the probability of an interest rate hike
also raises U.S. Treasury risk.
So overall, whether looking at the long-term trend or the current short-term move, it is bullish.$BTC
