Hot News:
"Fed's Mouthpiece" Nick Timiraos: The September employment report may close the door on the Fed lowering interest rates by 50 basis points next month.
CryptoQuant: Bitcoin has upward potential against the backdrop of declining U.S. Treasury yields and rising gold prices.
Grayscale: The U.S. employment report suggests fewer rate cuts, which is still favorable for BTC.
CCData: Binance's market share remains first, while Bitget's market share has risen to 11%, ranking fourth.
BlackRock currently manages nearly 370,000 BTC in funds, surpassing MicroStrategy's Bitcoin holdings.
Last night's key non-farm payroll data, including unemployment rate, employment, and wages, all exceeded expectations:
Unemployment Rate fell to 4.1%, indicating a reduced risk of economic recession.
Employment Numbers increased from an expected 140,000 to 254,000, showing the economy is in a "bull market."
Annual Wage Growth Rate reached 4%, with a stable monthly rate.
These data are generally positive for the market, with the only potential dissatisfaction for some investors being the increased probability of a 25 basis point rate cut in November, while the possibility of a 50 basis point cut has almost disappeared. Overall, the situation is optimistic.
October 2 Daily Report “Iran Attacks Israel, Causing Market to Buy! The Market Will Give an Explanation Within Three Days!”
The negative impact of localized wars will certainly be influenced by last night's non-farm data, which significantly exceeded expectations. Although there are doubts about the Labor Statistics Bureau's data, data is data, and the resulting user sentiment impact is the most direct. Therefore, the market is rebounding!
It is again evident that the crypto market is significantly influenced by the U.S. macroeconomic situation. Changes in U.S. monetary policy have important effects on both U.S. stocks and the crypto space. The current trend is shifting from monetary tightening to easing, which may have fluctuations during the process, but the end point points towards easing.
BTC
Yesterday, it was indicated that there was short-selling demand when the price first touched the 61800-62300 area, with a downward spike of over 1000. The price has now reached this area again, but it still needs to confirm an effective breakthrough of the 62500 high before continuing to rebound upwards, targeting 63900-64130. In the short term, the price can attempt to enter long positions on the first pullback to 61150-60700, and challenge 62000-62500 again, but take profits! 59500-59000 can still be waited for!
ETH
As mentioned yesterday, pay attention to the pullback opportunity after breaking through 2403, which forms structural damage! You can attempt to enter long positions at 2365-2350. Since BTC has not yet formed structural damage on the H1, this long position should be well protected, targeting the upper range of 2480-2500! At the same time, this position also has short-selling demand upon first arrival.
SOL
Breaking through 143 forms H1 structural damage, so a short-term pullback to 140-138 can be attempted for long positions, with the target still at 146-148! Due to the limited strength of the breakthrough at 143, this long position should be well protected if it takes effect.
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