#Buy Bitcoin on dips#
Hot Topic Overview
Overview
Bitcoin has seen some dip-buying recently, with prices rebounding to near $95,000. However, the market still faces a crucial test with the upcoming US jobs report, which could exacerbate concerns about the Fed's hawkish stance, further pushing up real yields and complicating the outlook for risk assets. If the jobs data comes in stronger than expected, it could lead to another decline in Bitcoin; conversely, if the data is weak, it could trigger market expectations of Fed rate cuts and shift market sentiment significantly in favor of risk assets, potentially allowing Bitcoin to attempt to break through $100,000 again.
Ace Hot Topic Analysis
Analysis
The Bitcoin market has seen some stabilization, with prices rebounding to near $95,000, supported by bargain hunters. Recently, Bitcoin prices tested the long-term support zone of $90,000-$93,000, which has successfully prevented at least six declines since the second half of November. However, the upcoming US non-farm payrolls report will test this latest rebound. The report is expected to show an increase of 164,000 jobs in December, compared to 227,000 in November. 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 and shift market sentiment significantly in favor of risk assets. Therefore, the direction of Bitcoin prices will depend on the outcome of the jobs data release and the trajectory of Fed policy.
Public Sentiment · Discussion Word Cloud
Public Sentiment
Discussion Word Cloud
Classic Views
Bitcoin buyers on dips are supporting the market, but the key jobs report could have an impact on prices.
A stronger-than-expected jobs report could exacerbate concerns about the Fed's hawkish stance, further pushing up inflation-adjusted bond yields, which would be negative for risk assets.
If the jobs data is weak, it could trigger market expectations of a Fed rate cut, shifting market sentiment in favor of risk assets.
The US government holds a large amount of Bitcoin, and its selling activity could affect market movements.