Today's data is out, and the price is struggling. The news is pretty neutral, so it can be interpreted either way. But I feel like in this situation, the drop should stop here, or maybe there’s room for a small rebound tonight. What happens next will depend on future developments. After all, fundamentally, it’s not about the 'economy getting worse,' but rather that high interest rates are starting to feel out of place. This kind of data just happens to push the Fed to be more dovish: Rising unemployment ≠ recession, but it does mean the cost of continued tightening is increasing. Rate cut probabilities are rising, and expectations for rate cuts are still there. The data impacts the dollar first, gold reacts next, and BTC is the last asset to be repriced. The downside is starting to be supported by macro forces, but whether it holds or not is uncertain, as there are still many unknowns. News from @BlockBeatsAsia