#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 dip buyers. 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 a hawkish Fed, further pushing up real yields and complicating the outlook for 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, potentially pushing Bitcoin prices to attempt a break above $100,000 again.
Ace Hot Topic Analysis
Analysis
Bitcoin has seen some dip-buying recently, with prices rebounding to near $95,000, but this rally faces a key test with the US jobs report. Later on Wednesday, 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. Friday's US nonfarm payrolls report will determine whether this rally can sustain, with expectations for 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 inflation-adjusted bond yields, which would put pressure on risk assets. On the other hand, if the jobs 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. Currently, market sentiment remains cautious, and investors need to closely monitor the outcome of the jobs report.
Public Sentiment · Discussion Word Cloud
Public Sentiment
Discussion Word Cloud
Classic Views
Bitcoin buyers on dips are supporting the market, but key US jobs data will test this rebound.
Stronger-than-expected jobs data could exacerbate concerns about the Fed's hawkish stance, further pushing up real yields, which would be negative for risk assets.
If jobs data is weak, it could trigger market expectations of Fed rate cuts, which would be positive for risk assets, and Bitcoin could again attempt to break through $100,000.
The US government holds a large amount of Bitcoin, and its selling activity could affect market trends.