🔔- Bitcoin (Bitcoin): Expected volatility range of $113,500 - $116,300, trend biased towards oscillating rebound
- Ethereum (Ethereum): Expected volatility range of $3,450 - $3,630, synchronously oscillating and rebounding
🔔 This week's key data calendar
- Monday: No major data or events
- Tuesday 20:30: U.S. June trade balance
- Tuesday 21:45 to 22:00: U.S. July S&P Global Services PMI final value, July ISM Non-Manufacturing PMI
- Thursday 01:00: U.S. 10-year Treasury auction results as of August 6 - winning yield
- Thursday 20:30: Initial jobless claims for the week
- Thursday 23:00: U.S. July New York Fed 1-year inflation expectations
🔔 Market Interpretation
1. Signs of stopping the decline appear, short-term bottom temporarily stabilizing
Yesterday, Bitcoin and Ethereum stopped falling and rebounded, initially showing signs of stabilization. Looking back at last week's pullback, multiple factors combined to trigger the market's risk-averse sentiment: rising inflation data, Powell's statement not releasing a signal for easing, Trump's copper tariffs causing a sharp drop in copper futures, tense geopolitical situations (nuclear submarines approaching Russia), and the downward revision of U.S. non-farm payroll data leading to the dismissal of the statistics bureau chief, all of which dragged the crypto market down.
2. Interest rate cut expectations rise, limiting downside space
It is worth noting that the downward revision of non-farm employment data suggests that the job market is not as hot as expected, indirectly raising the probability of a rate cut by the Federal Reserve in September. With this expectation supporting the market, the possibility of a significant decline in the short-term market is low, and the rebound momentum is expected to continue.
3. Today's market trend forecast
It is expected that the oscillating rebound rhythm will continue from the afternoon to the night, with a focus on whether mainstream coins can hold the upper edge of the range and open up further upward space.
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