Next week (July 29-31), we will welcome the 'Super Week', with the Federal Reserve's decision and U.S. non-farm data as the core events, which may have a significant impact on BTC and ETH:
1. Federal Reserve Decision: On July 29-30, the Federal Reserve will announce its monetary policy decision. If it maintains interest rates but releases dovish signals (such as hinting at future rate cuts), it may boost BTC and ETH, driving the spot market up.
2. Non-Farm Data: On July 31, the U.S. Bureau of Labor Statistics will release the July non-farm employment report. If the new jobs added are below expectations (such as below 70,000), it will strengthen rate cut expectations, benefiting risk assets, and BTC and ETH may rebound; if the data is strong, it may push up U.S. Treasury yields, putting pressure on risk assets.
3. Market Linkage: The Nasdaq index has a high correlation with BTC, and the performance of tech stocks may indirectly affect the crypto market sentiment.
Suggested Strategy: Before the Federal Reserve's decision and the release of non-farm data, reduce leverage or use derivatives for hedging to cope with potential volatility.
