The PCE price index has declined as expected, which is good news for interest rate cut expectations. Although the market is concerned that an economic recession may have a negative impact, from another perspective, this is actually positive. The clearer the signs of an economic recession, the greater the likelihood of interest rate cuts, and the market will not fall significantly as a result. In fact, after the opening, the market gradually stabilized and rebounded.

Next, the non-farm payroll data to be released on Friday will be very critical, with a high likelihood of a decline in data. The worse the data, the more it indicates the pressure of economic recession, and the closer interest rate cuts will be. Therefore, there is no need to worry too much; this is actually the biggest positive for Bitcoin.