The dollar holds life and death, interest rate cuts determine the universe $BTC
The cryptocurrency market, especially Bitcoin, currently shows a high negative correlation with the dollar index and U.S. Treasury yields.
In simple terms: Strong data → Expectations for interest rate hikes increase / Expectations for interest rate cuts are delayed → The dollar strengthens, U.S. Treasury yields rise → Risk assets come under pressure and decline.
Weak data → Expectations for interest rate hikes decrease / Expectations for interest rate cuts are brought forward → The dollar weakens, U.S. Treasury yields fall → Risk assets receive support and rise.
Retail data is the 'main dish', and the results will directly affect the market's judgment on the September FOMC meeting and the interest rate cut path for the entire year. This is tonight's 'big data', must keep a close watch!
What do you think about tonight's market?
