Today's homework isn't difficult to write. Although I ran around all day, I found that there wasn't much important content when reviewing the data and information. Trump's focus remains on tariffs, geopolitical conflicts, and the Federal Reserve. On Friday, there will be a temporary motion from Cook, and Trump's motivation still lies in increasing his leverage within the Federal Reserve. As the September interest rate meeting approaches, I believe Trump is feeling anxious. If there is indeed no interest rate cut in September, he will likely be very frustrated.

The market may also think that it will be difficult for Trump to win in the struggle against the Federal Reserve before Powell leaves. Therefore, any bets on Trump will at least be postponed until May next year, which is hard for him to accept. In the short term, inflation data and labor data have the greatest impact on the Federal Reserve.

Looking back at Bitcoin's data, although the turnover rate has started to decrease, it is still at a relatively high level. While market sentiment has begun to improve, purchasing power has not significantly increased. Investors are still waiting for updated information, and the existing information seems difficult to drive changes in the $BTC price. However, the strong performance of the U.S. stock market can still positively influence BTC.

From the support data, investors still have a good outlook for the support at $111,000. Even with a decline in expectations for a rate cut in September, this support level has held firm. As long as there is no worse information, it should not be easily broken.

This article is sponsored by #Bitget ｜ @Bitget_zh

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