Follow to see, earn millions, hello everyone, I am analyst Gu Jingci, here to share my views, and I hope every friend who follows can achieve good earnings!

You can follow the public account Gu Jingci a, focused on mainstream coin guidance and layout. On July 3, Bitcoin and Ethereum rebounded around 61500 and 1700 respectively, showing a certain rebound from previous levels, mainly influenced by non-farm data being lower than expected and other factors. Short-term has certain upward trends, but long-term it is still constrained by various factors, with uncertainties in the trend.

Price trend and market sentiment: Bitcoin rebounded from the 59000 line to a high of 62200, then maintained around 61400, with the market in a phase of oscillation and repair after positive news. Ethereum broke 1700 on July 2, rising 5.93% during the day. The market fear and greed index remains at a low level, but due to the price rebound, short-term market sentiment has warmed slightly.

Capital flow: Previously, Bitcoin and Ethereum spot ETF experienced continuous net outflows, but there are signs of return recently. If ETF funds can continue to flow in subsequently, it will provide strong support for prices; otherwise, the price increase will be difficult to sustain.

Technical indicators: The short-term core support for Bitcoin is at 60500 and 60000, with strong support at 59000 serving as the dividing line for this round of rebound strength. Short-term pressure above is at 61800 and 62200; if it holds steady, it can continue to look up to 62800, with mid-term strong pressure at 63500. The Ethereum daily RSI is in the oversold range, requiring some repair, but the moving averages are still in a bearish arrangement, with prices under long-term pressure below the MA30 and 200-day moving averages. Resistance above can be focused on around 1865, with key support below around 1500.

Influencing factors: The June non-farm data significantly underperformed expectations, with employment data revisions downwards, a decline in the dollar and U.S. Treasury yields, and a warming expectation of market easing, which is the main reason driving the rebound in the cryptocurrency market. In the long term, the direction of the Federal Reserve's monetary policy remains a key influencing factor. If it continues to maintain a hawkish stance, Bitcoin and Ethereum prices will continue to be under pressure. At the same time, Ethereum also faces the issue of weakening on-chain demand, with its active address 14-day average dropping 46% from the year's peak; DeFi and NFT trading volumes remain sluggish, Gas fees hovering at low levels, and insufficient network demand will also weaken its price upward momentum.

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