#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, the upcoming US non-farm payrolls report will test this rebound. Job data is expected to show an increase in job creation, but a stronger-than-expected result could exacerbate concerns about the Fed's hawkish stance, further pushing up bond yields and putting pressure on risk assets. On the other hand, if the data is weak, it could trigger market expectations of a Fed rate cut, which would be beneficial for risk assets. Additionally, the US government holds a significant amount of Bitcoin, and its selling activity could also impact market movements. Overall, the Bitcoin market is currently at a critical juncture, and investors need to closely monitor the jobs report and the Fed's policy direction.
Ace Hot Topic Analysis
Analysis
The Bitcoin market is currently showing some stability, 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. A stronger-than-expected jobs report could exacerbate concerns about the Fed's hawkish stance, further pushing up inflation-adjusted bond yields, making the situation for risk assets more complex. 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 allowing Bitcoin to attempt to break through $100,000 again. It is important to note that the US government holds approximately $18.5 billion in Bitcoin, and its selling activity could have a significant impact on the market.
Public Sentiment · Discussion Word Cloud
Public Sentiment
Discussion Word Cloud
Classic Views
Bitcoin buyers on dips are supporting prices, but key US jobs data could have a major impact on the market.
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 spark market expectations of Fed rate cuts, which would be positive for risk assets, including Bitcoin.
The US government holds a large amount of Bitcoin, and its selling could impact market movements.