Market analysis on July 3
1. Powell's speech and market reaction
Last night, Powell gave a speech, saying that inflation has made considerable progress, but it is still unclear whether there will be a rate cut in September and when the rate cut will be timed. Powell's speech should have been positive, but gold rose, the US dollar index DXY fell, and $BTC fell in the opposite direction.
2. ETF funds and on-chain data
There is not much inflow of ETF funds. In terms of on-chain data, BTC has not flowed into the exchange in large quantities, but stablecoins have flowed out of the exchange, which is worrying.
3. Market outlook and operational suggestions
Although we are optimistic about the general rebound, we need to prevent the last drop, so we remind everyone not to chase the rise. The non-agricultural data will be released at 20:30 this Friday. The abnormal excess of non-agricultural data last time had a great impact on the currency circle. I hope it will be normal this time.
Don't cut your short position at the bottom. The current position should not exceed 50%, and keep funds to buy the bottom when the market falls sharply. Inflation will fall, the Mentougou problem will be solved, and persistence will win.
