Looking at today's situation, should I say it's going up or down?
The unemployment rate unexpectedly decreased,
The probability of the Federal Reserve cutting interest rates in September has dropped to 80%
Generally speaking,
a lower unemployment rate is not favorable for the Federal Reserve to cut interest rates.
Previously, the market widely predicted a 98% probability of a rate cut in September,
but after the employment data was released,
the probability of a rate cut in September has slightly decreased to 80%, and a rate cut in July is no longer possible.
Additionally, CPI data will be released on July 15, which will ultimately determine the timing of the Federal Reserve's rate cut.
After the data was released,
Bitcoin slightly retreated,
but is still above the 109000 support,
the upward trend has not been damaged,
and we will still maintain a short-term bullish stance.
Therefore, I believe this will not affect the overall situation, it's just not the best outcome.
The current result is in line with expectations.
The overall trend is still bullish.
SOL, XRP, PEPE, SUI, WIF, Ethereum, and Dogecoin need Bitcoin to reach new highs to rise, so be patient.