Today, the market continues to maintain an optimistic sentiment. Despite poor PCE data, the market's sensitivity to macro data is weakening due to Trump's strong inclination towards interest rate cuts and his increasing pressure on Powell. There is even a logical dislocation emerging where "both good and bad data support rate cuts."

Although the probability of no rate cut in September has risen to 61%, the market remains strong as investors are more focused on Trump's attitude rather than the Federal Reserve's resistance. Additionally, regardless of whether tomorrow's unemployment rate data is high or low, the market has reasons to interpret it as positive.

From a technical perspective, the turnover rate of $BTC continues to decline, indicating that current investors are slow to react to short-term fluctuations, FOMO sentiment is weak, and selling pressure is not significant. I took profits on most long positions at $118,500, leaving 20% to continue observing.

Also, pay attention to the earnings reports of $MSTR and $Coin tonight. Q2 activity is expected to be higher than Q1, and the data performance is likely to be decent, potentially providing short-term stimulus to the market. The position density between $117,000 and $118,000 is already very high, and a directional choice is likely to be made in the future.

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