#Buy Bitcoin on dips#
Hot Topic Overview
Overview
The Bitcoin market is currently showing some stability, with prices rebounding to near $95,000, supported by bargain hunters. However, this rebound will be tested by Friday's US non-farm payrolls report. The report is expected to show 164,000 new jobs added in December. A stronger-than-expected jobs report could exacerbate concerns about the Fed's hawkish stance, further pushing up real yields and putting pressure on risk assets. On the other hand, if the data is weak, it could trigger market expectations of Fed rate cuts, which would be beneficial for risk assets. Therefore, the outcome of the jobs report will have a significant impact on the direction of Bitcoin prices.
Ace Hot Topic Analysis
Analysis
The Bitcoin market has shown some stability, with prices rebounding to near $95,000, indicating the presence of dip buyers. However, this rebound will be tested by the upcoming US nonfarm payrolls report. The report is expected to show an addition of 164,000 jobs in December. Stronger-than-expected employment data could intensify concerns about the Fed's hawkish stance, further pushing up real yields and putting pressure on risk assets. On the other hand, weak data could trigger expectations of Fed rate cuts and shift market sentiment in favor of risk assets. Therefore, the future direction of Bitcoin will depend on the outcome of the employment report and the Fed's policy path. Additionally, the US government's large holdings of Bitcoin could also impact the market.
Public Sentiment · Discussion Word Cloud
Public Sentiment
Discussion Word Cloud
Classic Views
Bitcoin buyers on dips played a supporting role in the recent market volatility, helping prices rebound to near $95,000.
The upcoming US non-farm payrolls report will have a significant impact on the price of Bitcoin. Stronger-than-expected employment data could intensify concerns about a hawkish Fed, further pushing up bond yields, which would be negative for risk assets, including Bitcoin.
If the employment data is weak, it could trigger market expectations of a Fed rate cut, which would be positive for risk assets, and Bitcoin could attempt to break through $100,000 again.
The US government holds a large amount of Bitcoin, and its selling activity could have a significant impact on the market. It needs to be closely monitored.