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Morning Market Analysis: Non-Farm Payrolls Fail to Shake the Uptrend, Patiently Awaiting Key Milestones!!

Good morning everyone! Last night, the non-farm employment data exceeded expectations and released negative signals, but the market performed unexpectedly — U.S. stocks opened high and consolidated at elevated levels, while the cryptocurrency market continued its upward trend. Similar situations have occurred multiple times recently; even when negative news hits, the market briefly dips before large funds quickly buy in, pushing prices back up. This pattern has repeated five times in a row.

Regarding Bitcoin, it attempted to break the $98,000 resistance level yesterday but failed, retreating to around $96,500 this morning. The liquidated positions in the $95,000 - $100,000 range continue to cut losses and change hands, driving up the cost basis, while the previous ETF fund cost was around $90,000. Currently, some miners are still in a loss position, which also indirectly reflects that Bitcoin's current price level has strong support.

Due to the weekend closure of institutions and the halt of U.S. stocks, market liquidity has decreased. Unless there is sudden news to stimulate the market, it is likely to maintain a consolidation pattern today, with small short-term pullbacks considered normal fluctuations. It is worth noting that Ethereum is about to undergo an upgrade, and next week, after the U.S. stock market opens, the market may experience significant volatility.

Although the non-farm data has pushed back the market's interest rate cut expectations to July, the overall upward trend remains unchanged, and I suggest everyone remain patient.

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