Data Nuclear Explosion! 218,000 jobless claims data leaked, and the crypto market may welcome an epic trend!

News:

At 20:30 tonight, the U.S. Department of Labor will announce the number of initial jobless claims, and according to leaked screenshots from internal channels, the number of applications that week reached as high as 218,000! This data far exceeds the market expectation of 221,000, but more shockingly, this value is approaching the critical point at which the Federal Reserve will pause interest rate hikes in 2023!

As a senior analyst in the crypto space, I must remind all fans: this data storm will directly ignite the crypto market!

Three Deadly Moves Behind the Data

  1. Federal Reserve Policy Nuclear Bomb
    The number of initial jobless claims continues to be below 220,000, showing that the labor market's resilience exceeds expectations, but 218,000 has reached the Federal Reserve's 'soft landing' red line. If the data is confirmed, Powell may release a hawkish signal in September, and Bitcoin could face a sell-off due to 'interest rate cut expectations shattering.'

  2. Institutional Fund Undercurrents
    CME data shows that the current market bets on a 65% probability of a rate cut in September. However, if jobless claims data rebounds, hedge funds will trigger programmatic sell orders, and Bitcoin could instantly break through the key support level of $114,000.

Technical Life and Death Line Analysis
Bitcoin: $115,000 Bull-Bear Divide, $113,000 Death Cross Level
Ethereum: $3,500 Neckline Level, $3,350 Liquidation Cliff

Shenlong's Personal Opinion
The outcome of this data battle will directly determine the direction of the third-quarter market:

If the data is bearish: Bitcoin may retrace to $113,000, but can be seen as a mid-term bottom, with altcoin season postponed to Q4.
If the data is bullish: The $116,000 resistance level will be broken, and Ethereum is expected to lead with a 30% increase.

Shenlong's Operations
Focus on Key Data Points
Monitor whether 218,000 is the final value. If revised above 220,000, immediately short BTC; if revised below 210,000, decisively buy the dip!


Now, check your leverage ratio immediately! This bloodbath triggered by 218,000 people is destined to be recorded in the history of cryptocurrencies.

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