#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 be a key test. If the data is stronger than expected, it could intensify concerns about the Fed's hawkish stance, further pushing up bond yields and negatively impacting risk assets. Conversely, 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's large holdings of Bitcoin could also influence market movements.
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, compared to 227,000 in November. 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 employment data is weak, it could trigger market expectations of a Fed rate cut and shift market sentiment significantly in favor of risk assets, potentially allowing Bitcoin prices to attempt to break through $100,000 again. Overall, the Bitcoin market is currently at a critical juncture, and investors need to closely monitor the upcoming US non-farm payrolls report and make investment decisions accordingly based on data changes.
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 could impact prices.
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 and shift market sentiment in favor of risk assets, pushing Bitcoin prices higher.
The US government holds a significant amount of Bitcoin, and its selling could have a major impact on the market.