It seems like we might be getting close to the bottom there. $BTC often moves the opposite way when oil prices shift, and right now everything is pointing toward a possible capitulation in the market.
Just be careful with your trades and manage your risk.
We have some serious volatility coming today. The unemployment rate and Non Farm Payrolls data drop at 12:30 UTC.
Here is a simple breakdown of what to expect. If the unemployment rate comes in higher than expectations, it often leads to a big downside move. If it lands right on expectations, we might see sideways movement. If it comes in lower than expectations, that usually means an upside move.
Mark your calendar for 12:30 UTC today. This data can really shake up $BTC and the whole crypto market.
I’m expecting much lower from here around ~$54k. Unemployment rate data drops on July 2nd, and if it comes in higher than expected (4.3%), we’ll likely bleed down to those levels.
Personally, I’m forecasting 4.4%. But I’ll wait for the data to come out and volatility to cool off before getting more confident with my trades!
$BTC just dropped below $59k 🚨 I’m expecting a much deeper move, around ~$54k. Unemployment rate data comes out on July 2nd. If it prints higher than expected (forecast: 4.3%), we’ll bleed down to those levels!
$AVAX was one of my favorite altcoins. But its recent performance has been rough, just like most other coins. It already broke the long-term support around the $9 zone and is now trading even lower.🚨
If it loses the current $6 support, it could drop hard like $DOT did. That said, I still believe $AVAX has strong long-term potential. I think it has already capitulated, which makes this a good time to buy a small percentage of your total allocation
$BTC doesn't seem to have much liquidity left below 57K on the higher time frames. Without that fuel, there's really no strong reason for price to keep pushing lower right now. 🔔
If we tap into those levels though, it sets up a clean scalp long opportunity. That said, if 57K gets taken out anyway, even without liquidity sitting there, we could see a move down toward the 53K zone. This area is getting close to what might be a real capitulation point.
Core PCE and GDP data are dropping today. $BTC will react to these numbers for sure.
For GDP: If the data comes in right as forecasted, we should see some sideways movement. If it prints hotter than expected, that could spark an upside move. Otherwise, downside continuation looks likely.
Note that PCE & GDP are inversely correlated. For PCE, lower is better.
Binance has decided to withdraw its MiCA licence application in Greece and will pursue authorisation in another EU member state. They will announce the specific country publicly when they are ready.
Only users who are impacted will receive an email before July 1 with instructions. For everyone else, it is business as usual for now.
⚡️JUST IN: The Philippine Securities and Exchange Commission (SEC) has shown real interest in the Real World Assets market.
More and more countries are showing real interest in RWA's. Behind the scenes, $LINK is perfectly positioned to fly. It is the decentralized infrastructure that brings live data, proof of reserves, and cross chain movement to RWAs. Keep your eyes on this 👀
I'm seeing a lot of misinformation about Binance leaving the EU market from July 1st. 🚨
Binance shared an update on their MiCA journey in Europe. Your assets are safe and accessible as always. After 18 months, the Greek regulator completed their review and considered the application compliant with MiCA. No final decision yet.