The market has risen for a month,
this week experienced a significant correction.
GDP and PCE exceeded expectations, negative for the market.
Non-farm data was below expectations, positive, but led to a crash in US stocks, which also affected the cryptocurrency market.
Trump continues to stir the pot: imposing tariffs, criticizing Jerome Powell, deploying nuclear submarines.
This week, the Federal Reserve faced significant variables, with two board members opposing a rate cut, and one member resigning.
This resignation is beneficial for Trump as it allows him to appoint one of his own ahead of time,
thus there will be 3 loyalists within the Federal Reserve, making future rate cuts easier!
This round of decline is also influenced by the escalation of international conflicts.
In addition to the US deploying two nuclear submarines near Russia,
Putin announced that Russia has begun mass production of the "Hazelnut" missile, which will be deployed in Belarus.
Germany delivered two Patriot systems to Ukraine.
From a technical indicator perspective, BTC's daily RSI, WR, and others have dropped to their lowest, indicating low risk.
If there are no significant negatives from US tariffs and international conflicts next week,
then BTC should be able to rebound and surpass $116,000.
In the long run, BTC remains bullish; let's ignore the brief corrections in between and look ahead.
For reference only.