Midday Market Analysis:
$BTC broke a new high yesterday, but altcoins are struggling to follow suit, with a clear divergence in market trends. Even though #大饼 is performing strongly, three major risks still need to be heeded:
①. The US May PMI exceeded expectations, which may worsen inflation and cool down interest rate cut expectations;
②. The risk of escalating conflicts in the Middle East, geopolitical turmoil may impact the market;
③. The US House of Representatives passed a debt expansion bill, leading to a rise in US Treasury yields, which is bearish for the cryptocurrency market.
Brothers need to pay attention; a surge in BTC may drive altcoins to rise in the short term, but once there is a correction, altcoins are likely to give back their gains, so operations should be cautious.
