7.3-Chasing Bull Community Midday Report: Bitcoin’s current 30,000 mark is crucial. Once it stabilizes, it will aim above 35,000 US dollars

Super cattle小牛哥btc · 2023-07-03T04:25:59.000Z

Time: Monday, July 3, 2023 1. Latest news: At 2 a.m. on Thursday, the United States released the minutes of the Federal Reserve meeting. It is expected that the minutes will talk about the reasons for suspending interest rate increases in June, and Wall Street is concerned about the minutes of the meeting regarding the next two interest rate hikes. Officials are now showing disagreement over whether to support further rate hikes, making the extent of potential hikes uncertain. Let’s review the incident last week when BlackRock applied for a Bitcoin spot ETF. However, this time the SEC was different from the past. It did not reject it directly. Instead, it said that the documents were not fully prepared. Does this imply that if the documents are sufficient, it will be almost ready. At the same time, the SEC responded relatively quickly this time. It responded directly after submitting the application. Unlike before, which was delayed again and again, and then BlackRock submitted the correct information again. Through this matter, we can see that the distance between the application for Bitcoin spot ETF Successful passage is really not far away.

Time: Monday, July 3-6, 2023
1. Latest developments:
At 2 a.m. this Thursday, the United States released the minutes of the Federal Reserve meeting. It is expected that the minutes will talk about the reasons for suspending interest rate hikes in June, and Wall Street is concerned about the minutes about the next two interest rate hikes. It currently shows that officials have different opinions on whether to support further interest rate hikes, which also makes the potential extent of interest rate hikes uncertain. Let's review the incident of BlackRock applying for a Bitcoin spot ETF last week. However, the SEC did not directly reject it this time, but said that the documents were not fully prepared. Does this imply that if the documents are sufficient, then it will be almost ready? At the same time, the SEC responded quickly this time, and gave a direct reply after submitting the application, unlike the previous delays. Then BlackRock submitted the actual information again. Through this incident, we can see that it is really not far from the successful approval of the Bitcoin spot ETF application.
Looking at the crypto market again, last week's hot sectors mainly revolved around the two tracks of POW and RWA. Among them, the leader of the RWA track is mainly COMP. COMP has also done a project that mainly operates by anti-capture of U.S. Treasury bond returns. Let's not talk about this model, but from the compliance level, there are unpredictable risks in the future, and they are not small. However, the current market is in the FOMO stage, and it is difficult to stop because of unknown risks. In addition to COMP, there are MKR, RIO, etc. The RWA track concept is very good and has great room for the future, but it will also be restricted by regulatory issues. It will not be so fast to realize the grand vision. In addition to the RWA track, there is also the POW sector, which is mainly BCH and LTC as a supplement. It is sought after by the market. With the approaching LTC halving time, I think this hype will continue for a while, so everyone can pay attention to POW that has not been pulled up yet. The opportunity still exists. $BTC
2. Back to the encryption market, after a brief fixed-point pin-blasting contract in recent days, Bitcoin is about to move out of the shock range and start a slow upward trend. From the market point of view, the current daily trend is relatively healthy, and the weekly trend is also good.
At the 4-hour level, the 30,000 level is crucial. If Bitcoin continues to rise, it must hold on no matter what. Otherwise, it will continue to adjust. Once it stabilizes above 30,000, it will likely hit the 35,000-36,000 range. The support below is 30,000, and the resistance above is 31,500. The pullback is an opportunity to get on the train in batches. The ssv and ldo mentioned earlier, as well as the id, have been rising in the past two days. You can take profits in batches when the market rises. In addition, when the big cake rush gives the market confidence, you should pay more attention to the cottage, especially the bit ecology, L2 track, and AI sector that have not risen much. #BTC #ETH  
(Risk Reminder) The above content is not intended as investment advice. Digital assets fluctuate greatly, so do not go all in!