Time: Friday, June 9, 2023

1. Latest developments:

Last night, U.S. stocks collectively closed higher, with the Nasdaq up 1.02%, the Dow up 0.5%, and the S&P 500 entering a technical bull market and closing up 0.61%. The U.S. labor market data released last night on Thursday began to cool down. Last week, the number of initial jobless claims in the United States accelerated beyond expectations, reaching a new high since October 2021. Affected by this, the U.S. dollar index fell, closing down 0.66%, and U.S. bond yields also fell.

In addition, I will not elaborate on the news or progress of the SEC and BN lawsuits. If you are interested, you can search for them. As retail investors, we don’t have to worry about asset risks at present, but we can think about whether we can seize new opportunities in the future.

2. Back to the crypto market, Bitcoin continues to adjust weakly, and the market is still moving downward to verify the bottom support, so there is not much to analyze. The market has not continued to fall due to the SEC's lawsuit against BN and Coinbase, but market confidence has been hit. Judging from the market trend, it is still in a stage of downward adjustment.

At the 4-hour level, the support is 25,000 below and the resistance is 27,100 above. If the 25,000 level is also broken, Bitcoin will usher in a new waterfall market. Pay special attention to the risk of callback in the second half of the year. It is recommended that you wait patiently for the recent wash market. The real time to buy the bottom has not yet arrived. At most, you can operate some short-term favorable green varieties with a light position. The second half of the year may be the best time for us to buy. If you want to buy the bottom, you may have to wait until August or September. Don't miss it then.

(Risk Reminder) The above content is not intended as investment advice. Digital assets fluctuate greatly, so do not go all-in! #BTC #ETH