Macro market analysis on November 13, 2023 Good morning, brothers. Yesterday, the market took a sharp downturn again, indicating that the liquidity of the entire market is still insufficient. The transition of ancient giant whales to institutions has reached the final stage and still requires time for digestion. Owen Gunden, an ancient whale, deposits 500 BTC into the exchange every day, There are still over 4900 BTC left, and at this rate, it will take another 10 days to sell them out. Affected by the government shutdown, the non farm payroll and inflation data for October in the United States may never be released. At the same time, under pressure from Kawako, the hawkish general of the Federal Reserve announced his retirement, which helps to weaken the hawkish voice within the Fed. In addition, Kevin Hassett, Director of the National Economic Council of the United States, stated that as the Chairman of the Federal Reserve, if he takes office, he is inclined to implement even greater interest rate cuts. From these two incidents, we can further see the trend of interest rate cuts next year, but there are constant twists and turns in the middle. Recently, there has been a small positive news: the United States will lower tariffs on daily food and groceries. Because under the tariffs imposed by Chuanzi, the shopping costs for American citizens are too high. Lowering these tariffs will help reduce prices and also facilitate interest rate cuts. The US stock market is at a high level, the US government has not yet ended its shutdown, and market liquidity is fragile. But the sunshine always comes after the storm, demanding that we not be blown out in the wind and rain. It is recommended to mainly hold BTC in spot trading, with small funds and intraday orders as much as possible for contracts. If there is no suitable position, do not do it. Let everything go according to circumstances and patiently wait for the situation to improve. Analysis is only a friendly reference. Adults should take responsibility for their own decisions and invest with risks. Please invest with spare money and think and judge independently!