The market moved very slowly throughout the whole day, and tonight's PCE data may provide everyone with a specific direction.
Firstly, the high or low of tonight's PCE data will provide ammunition support for Mr. Powell to continue to play Tai Chi with Trump.
Currently, the U.S. May Core PCE Price Index year-on-year previous value is 2.5% and the expected value is 2.6%. Tonight's data should not be too outrageous, likely still providing a year-on-year figure of 2.6% and a month-on-month figure of 0.1%.
Of course, this is just a personal expectation. If the data is very strong, the market will likely break upward again.
But if BTC still does not rise tonight and instead starts to pull back, what does this indicate? It may suggest that BTC has already priced in the expectations of trade easing and interest rate loosening.
Therefore, I would rather wait to short after it rises than choose to go long.
