This week, the employment data released by the United States was extremely strong: the number of job vacancies, unemployment rate and non-farm payrolls data all exceeded market expectations. This situation has greatly weakened the market's expectations for the strength of the US dollar rate cut, pushing the US dollar index above the 110 mark. Affected by this, the price of Bitcoin fell sharply, falling below $90,000, and once plunged to $89,621. If the price of Bitcoin cannot rise above $91,500 at the close, it may face further risks of decline.
The current market pricing expectations are quite similar to the situation in October 2023. At that time, as soon as the news of the application for the Bitcoin spot ETF came out, it quickly dispelled the haze at the macroeconomic level.
At present, the market's expectations for the strategic reserve of Bitcoin are becoming stronger, especially considering the accession of the King of Understanding.
