Brothers, U.S. employment data has flipped again!
Recently, Trump directly fired the head of the Bureau of Labor Statistics, citing that the employment data post-pandemic has 'too much water' - the unemployment rate has soared, and the number of jobs has been significantly revised down, with a total of 258,000 jobs adjusted down in May and June, and only 73,000 new jobs added in July (expected 104,000), setting a new low for nearly a year. But the funny thing is, while he shouts about 'rectifying data fraud,' he doesn't increase the budget or manpower for the statistics department, pure 'wanting the horse to run, but not wanting the horse to eat grass'!
But what does this have to do with our crypto world? It matters a lot!
Interest rate cut probability skyrocketed: employment data is disappointing, the market is betting that the Federal Reserve's rate cut probability in September exceeds 80% (originally miswritten as 78%)! Once rates are cut, the dollar weakens, and assets like Bitcoin and Ethereum, which are anti-inflation, will immediately become attractive! Smart money has already acted: last week, funds borrowed Bitcoin ETFs to frantically bottom-fish, with a net inflow of $812 million in a single day (originally miswritten as $700 million), setting a new six-month high! On-chain data also shows that large holders are accumulating BTC and ETH at lower prices. Risk aversion is rising: the more chaotic the economic data, the more panicked traditional funds become! Gold has hit new highs, Bitcoin briefly dropped to $113,000 (originally miswritten as $64,000), but quickly rebounded above $116,000, clearly showing that funds are supporting the price. Don't forget that during the flood of money in 2020, Bitcoin surged from $3,800 to $60,000 - history may repeat itself!
Remember three tips for operation:
Hold your spot and don't get off: poor data = loose policy = medium to long-term good news, a sharp drop is just a golden opportunity; Focus on mainstream coins: especially Ethereum! The spot ETF is counting down (in August, institutional trading volume broke $800 million in a single day), you can gradually bottom-fish below $3,500; Keep some ammo for black swans: with the U.S. elections approaching in November, if Trump pushes for trade protectionism or regulations ramp up, it may trigger volatility, so don't fill your position over 70%.
The last word of truth:
The more chaotic the economy, the brighter crypto shines! But remember - don't touch leverage, stay away from low-quality coins, only eat the fish body and don't be greedy for the fish tail! Follow the old rich to help you dig out real opportunities with a macro perspective!
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