Data is the pulse of the market; understanding it allows one to accurately grasp the rhythm of the cryptocurrency market.

Tonight, U.S. economic data is coming out; how will the cryptocurrency market respond?

A series of U.S. economic data will be released tonight, serving as an 'economic health report' that directly impacts the strength of the dollar, which in turn affects the cryptocurrency market.

Key Data Interpretation

20:30 Chicago Fed National Activity Index

Reflects the overall economic activity of the U.S.; if the data is strong, the dollar may strengthen, putting short-term pressure on the cryptocurrency market.

22:00 New Home Sales Data

Real estate is a barometer of the economy; if sales are hot, it indicates a strengthening economy, and funds may flow back to traditional markets, leading to potential selling pressure on the cryptocurrency market.

22:30 Dallas Fed Manufacturing Index

If manufacturing data exceeds expectations, the dollar may rebound, while risk assets like Bitcoin may be suppressed.

23:30 3-Month Treasury Auction Data

A 'thermometer' for market risk aversion; if the auction is hot, it indicates a preference for safe assets, which could lead to short-term sluggishness in the cryptocurrency market.

The short-term trends of the cryptocurrency market are influenced by macro data, but the long-term is still determined by its own supply and demand.

In May 2023, U.S. non-farm payroll data exceeded expectations, leading to a significant increase in the dollar, while Bitcoin plummeted 5% on the same day but recovered a week later.

In January 2024, CPI data came in below expectations, resulting in a weaker dollar, with Bitcoin surging 8% in a single day, followed by altcoins.

The market may experience severe fluctuations after the data is released, but the real trend often forms after digesting the data.

How to operate tonight?

Short-term traders: Pay attention to market reactions after the data is released, remain vigilant against severe fluctuations, and set stop-loss orders.

Long-term holders: Ignore short-term noise and gradually accumulate quality assets on dips.

Tomorrow morning at 8 AM, I will deeply analyze the actual impact of tonight's data on the cryptocurrency market and provide specific operational strategies!

Follow @BlockKey to understand the market and seize opportunities!#比特币远古巨鲸持续出清