Today the data came out, the price is struggling, and the news is quite neutral, open to interpretation in either direction.

However, I feel that this situation should have stopped the decline or there might be a rebound tonight; we will have to see how it goes later.

After all, fundamentally, it is not that the "economy is deteriorating," but rather that high interest rates are starting to become inappropriate. This is the kind of data that can just push the Federal Reserve to be more dovish:

An increase in the unemployment rate ≠ recession, but it means that the cost of continued tightening is rising.

The probability of interest rate cuts is increasing, and expectations for rate cuts are still present. The data feedback will first affect the dollar, gold will react first, and $BTC will be the last asset to be repriced.

Downward space is starting to be supported by macro forces, but whether it can hold is uncertain, as there is still a lot of uncertainty.

News from @BlockBeatsAsia

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