8/22 Market Analysis

From 10:30 last night to 2:00 in the morning, the market once again verified the accuracy of these two core judgment criteria:

1. QCEW data from the Bureau of Labor Statistics: The data released at 22:32 showed that only 818,000 jobs were reduced, far below the market's expectation of 1 million, which reduced the fear of economic recession. As a result, the market diverged - some believed that the risk of recession was reduced and pushed up prices, while others remained cautious, leading to price corrections.

2. Fed meeting minutes: The minutes released at 2 a.m. further strengthened the market's expectations for rate cuts, and this positive signal prompted the market to rise.

Bitcoin hit a high of around $61,800 during this period, coinciding with the key resistance level previously predicted. The September rate cut is almost a foregone conclusion, and market sentiment has shifted from worrying about recession to looking forward to rate cuts. BTC has followed the upward momentum of US stocks and successfully broke through the $60,000 mark.

Outlook for key events:

1. Powell's speech on Friday is expected to take a dovish stance and release more signals about multiple rate cuts in the future, which is good for the market.