Tonight, will the market turn? Is Big Cake ($BTC ) and Ethereum ($BTC ) set for an upward breakout or a downward breakdown?
Tonight, the U.S. Treasury market may be the key factor behind this potential market turn. Today (September 9 at 23:00), the Ministry of Finance first announced the scale of long-term U.S. Treasury repos, while the actual expansion of buyback operations specifically targeting the 10–20 year U.S. Treasuries will be executed tomorrow (September 10 at 01:00).
The Ministry of Finance’s U.S. Treasury repos ≠ the Fed’s QE ≠ directly opening the floodgates. What truly affects BTC/ETH is what happens to U.S. Treasury yields and the U.S. dollar after the repos.
If the upcoming demand for U.S. Treasury repos is strong and the repo size exceeds expectations, it effectively provides support to U.S. Treasury prices, puts pressure on long-term yields, and is bullish for the crypto market (BTC/ETH). In that case, Big Cake needs to see whether it can directly break through the resistance level around 82,000; the same goes for Ethereum—whether it can effectively break above the previous high near 2,560.
If the repo size is below expectations and demand is weak, then U.S. Treasuries will need to keep bearing pressure; yields will remain elevated or even rise. That would be a bearish-leaning but slightly bullish setup for the crypto market (BTC/ETH). In that case, Big Cake/Ethereum may drop toward the lower bound of the recent consolidation range—around 77,000 and near 2,400.
#美债 #灰度ZcashETF资产突破5亿美元
Whether the Fed will raise rates still needs to be confirmed by the U.S. August CPI (not seasonally adjusted) year-over-year figure on September 11 at 20:30, so we’ll just wait for the market to move in its direction—just wait and see!!!
Follow me, and I’ll share more trading insights.
Tonight, the U.S. Treasury market may be the key factor behind this potential market turn. Today (September 9 at 23:00), the Ministry of Finance first announced the scale of long-term U.S. Treasury repos, while the actual expansion of buyback operations specifically targeting the 10–20 year U.S. Treasuries will be executed tomorrow (September 10 at 01:00).
The Ministry of Finance’s U.S. Treasury repos ≠ the Fed’s QE ≠ directly opening the floodgates. What truly affects BTC/ETH is what happens to U.S. Treasury yields and the U.S. dollar after the repos.
If the upcoming demand for U.S. Treasury repos is strong and the repo size exceeds expectations, it effectively provides support to U.S. Treasury prices, puts pressure on long-term yields, and is bullish for the crypto market (BTC/ETH). In that case, Big Cake needs to see whether it can directly break through the resistance level around 82,000; the same goes for Ethereum—whether it can effectively break above the previous high near 2,560.
If the repo size is below expectations and demand is weak, then U.S. Treasuries will need to keep bearing pressure; yields will remain elevated or even rise. That would be a bearish-leaning but slightly bullish setup for the crypto market (BTC/ETH). In that case, Big Cake/Ethereum may drop toward the lower bound of the recent consolidation range—around 77,000 and near 2,400.
#美债 #灰度ZcashETF资产突破5亿美元
Whether the Fed will raise rates still needs to be confirmed by the U.S. August CPI (not seasonally adjusted) year-over-year figure on September 11 at 20:30, so we’ll just wait for the market to move in its direction—just wait and see!!!
Follow me, and I’ll share more trading insights.
