The homework for Sunday has become much simpler, and there haven't been any major events. A narrow range of fluctuations is the best scenario. The resignation of Japanese Prime Minister Shigeru Ishiba has somewhat helped the current U.S. risk market, alleviating the impact of yen interest rate hikes on the lending market. Although it doesn't fundamentally change the main contradictions in the U.S., it can ease investors' sentiments. Otherwise, worrying about the Federal Reserve not lowering interest rates while also worrying about Japan's rate hikes would be quite frustrating.

Many data points are now indicating a potential downturn in the U.S. economy, especially the trends related to U.S. real estate, which have even caught Trump's attention. Real estate is one of the industries most closely tied to interest rates; buying and building homes is difficult under high rates, and the labor market is also showing concerns about the economy.

In recent days, Trump and his supporters have either been criticizing Powell or claiming that interest rates are too high. Therefore, the focus of market speculation remains on the interplay between Trump and the Federal Reserve regarding interest rates.

Looking at Bitcoin data, liquidity over the weekend remained very low, and the price fluctuations of $BTC were minimal, indicating that investors can still tolerate the current situation without signs of panic. Next week will bring the last set of inflation data before the September interest rate meeting, as well as revisions to employment data for 2025, which may influence sentiment, but ultimately it will depend on interest rate adjustments.

The first real confrontation between Trump and Powell will take place at the interest rate meeting on September 18. Additionally, from a support perspective, I made some adjustments; the latest support zone is set between $104,500 and $110,500, which is currently the area with the most accumulation, exceeding 2 million BTC.

This article is sponsored by #Bitget ｜ @Bitget_zh

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