On August 27, news from 4E observed that the Consumer Confidence Index of the U.S. Conference Board fell to 97.4, lower than last month's level. The present situation index dropped to its lowest point since April, and the future six-month expectations index also declined. Signals from the job market are weak, with the proportion of people finding it 'hard to find a job' rising to the highest point since 2021, reflecting growing economic concerns caused by tariff policies and a cooling labor market. On the macro front, Trump's dismissal of Federal Reserve Governor Cook has raised concerns about the independence of the Federal Reserve. White House Council of Economic Advisers Chair Brainard warned that this move could push up inflation and long-term interest rates. Deutsche Bank also pointed out that the room for a dollar rebound is limited, and Powell is struggling to balance monetary and political demands. The crypto market is focusing on critical price levels for Bitcoin. On-chain analyst Murphy stated that $108,800 serves as the cost basis for short-term holders and is the emotional dividing line between bulls and bears. If it falls below this level, this group may shift from unrealized gains to unrealized losses, and sentiment could turn to panic, putting short-term pressure on the market. CryptoQuant analyst Axel Adler Jr. added that Bitcoin's current strong support level lies in the range of $100,000–$107,000; if this is lost, the next support level is at $92,000–$93,000. Overall, the combination of macroeconomic uncertainty and policy risks in the U.S. is intensifying market volatility, making the key technical support levels for BTC a focal point for bulls and bears. 4E reminds investors: Weak consumer confidence and employment data, combined with the politicization risk of the Federal Reserve, may continue to amplify market volatility. It is recommended that investors pay attention to the performance of BTC support areas and flexibly adjust positions in line with macro signals.

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