The number of people applying for unemployment benefits this week is slightly higher than expected, but not by much, so the impact is minimal. It is worth noting the Philadelphia Fed Manufacturing Index, which is released by the Federal Reserve Bank of Philadelphia and serves as an economic indicator to measure the health of manufacturing activity in the central Atlantic region of the United States. This number is actually much lower than expected, indicating that the manufacturing sector in some parts of the U.S. is clearly facing issues. However, since it is only in certain areas, the overall impact is still limited.

The focus is still on Powell's speech tomorrow. Whether this old man can be dovish or not may even determine whether the cyclical patterns in the cryptocurrency market are still effective. Sigh, you win, Federal Reserve, you have truly managed to make all dollar-denominated assets heed the Federal Reserve. What a load of nonsense indicators, sentiment, and liquidity are all useless.

The global liquidity index and Bitcoin prices continue to diverge, with the degree of divergence being the most exaggerated in the entire bull market cycle; it has never been this extreme before. As for sentiment, whether it's the Google search index or the fear and greed index, they are all irrelevant and completely ineffective.