$BTC This wave surged to 109,500 USD, all driven by leveraged long positions in the futures market! 3.2 billion USD in open interest surged by 10%, shorts are being rubbed into the ground! ADP data unexpectedly dropped by 33,000, the probability of a Fed rate cut in July jumped to 27.4%, and the chance of a 25 basis point cut in September is over 60%! The put/call ratio in the options market soared to 0.72, with 104,000 as the lifeline, and 114,000 as the real ceiling!
The market is now playing Russian roulette! If the #非农 data continues to underperform, BTC could shoot up to 114K! But what if the data exceeds expectations? Be careful of a technical correction and washout! But don't be misled! Rate cut expectations are the main theme, and long funds are still flooding in!
Operational strategy: If 104,000 holds, stick with long positions, consider taking profit only when it touches 114,000! As for shorts? Wait until the non-farm data is released! I bet non-farm continues to underperform, and BTC shoots directly to 114K! Hold long positions firmly, and don’t be stubborn with the shorts!
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