1）On Friday night at 22:00, Federal Reserve Chairman Powell will deliver a speech to guide the policy direction for the second half of the year. The market expects to focus on the path of interest rate cuts and successor candidates, with special attention on this speech. If he clearly mentions an interest rate cut in September, the market will soar; if he continues to emphasize inflation issues, the market will start to consolidate again. I don't think the speech will be optimistic. Currently, the probability of a rate cut in September has dropped to 83%. Let's see what new expectations arise after he finishes speaking; we have been digesting the downward expectations these days and hope that there won't be a decline after the meeting.
2）Trump, Zelensky, and Putin's next meeting is being considered to be held in Budapest. Waiting for the decision of the presidents of Russia and Ukraine. Ukraine has basically surrendered; 10 countries will send troops to be stationed in Ukraine, and soon it will become the number one country to be divided by the powers of the 21st century. (So basically the next negotiation should be beneficial.)
3）BitMine (BMNR) holds 1,523,373 ETH, with an average cost of $3,730. SharpLink (SBET) holds 740,760 ETH, with an average cost of $3,478. These are the two largest ETH reserve institutions, and their cost price is below $4,000. Even if it drops to $3,000, they are not afraid because they can spiral finance.
The gap for ETH at $4,060 has basically been filled, and a rebound is starting to appear. It took 7 days to fill this gap.
Now we are waiting for the market to digest Powell's hawkish remarks. Once digestion is complete, the market will have bottomed out.
I believe the bottoming range this time is around BTC 108,888 and ETH 3,888.
There is no need to wait for these two positions to be precise. Those without positions can hold onto their purchases made at $4,066 in the morning, while those with positions can continue to wait.
No one can accurately touch the bottom; it is just a range. As long as you believe the bull is still there, then bravely get on board.
