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Many students are asking why the US stock market is still rising if BTC's decline is caused by data from the core PCE. If not, why does BTC experience a decline while the US stock market is rising? This question is indeed very painful, and I don't have an accurate answer. I can only give a rough answer.
The reason may still lie in CRCL and COIN. Today's focus is on the core PCE. Although the data is not good, in fact, the inflation increase is not only due to the problem of US housing, but also due to commodities. Houses have already started to cool down, but it may take some time for it to reach PCE. The increase in commodity inflation is more due to expected tariffs.
Once tariffs are implemented, these issues can be resolved, so the PCE data in the United States is not very serious. PCE is not the main reason for BTC's decline. In fact, PCE data brings about an increase in US investors' expectations for the Federal Reserve's interest rate cut, including the expectation of Powell and several Federal Reserve officials preparing to cut interest rates in September yesterday. For CRCL, which relies on US bond interest rates, it is the least desirable to cut interest rates because it means a decrease in income. Although it is currently described as extravagant, in essence, CRCL's returns in the past two years have relied on the high interest rates of US bonds. Once interest rates start to fall, CRCL's returns and expectations will decrease. As for whether CRCL can enter the payment field and achieve results, I believe it will not be seen in the short term. The decline of CRCL also brings down OIN, and the decline of COIN has made many investors who are chasing high uncomfortable.
It is believed that the trend of the cryptocurrency market may peak in the short term, especially since the decline in the Middle East war has not yet returned. Some investors may reinvest in the US stock market from the cryptocurrency market, and the new high in the US stock market is also a stimulus for investors. Nvidia, Tesla, Apple, Microsoft, are not more attractive?
Of course, this is just my personal opinion, and I think the overlap between BTC and the US stock market is still very high. Small scale detachment is not a big deal, it has been more in history, but it will still remain consistent in the overall direction.
Looking back at the data of BTC, there is nothing new. Although the price has slightly decreased, there is currently no systemic risk seen. The US stock market has also shown signs of a slight correction. In addition, the support level is stable, and there has not been a significant increase in turnover. Therefore, there is no need for everyone to worry too much about the recent market situation.
Operation suggestion:
BTC 107000 long. First target: 108300. Second target: 109350
ETH 2400 long. First target: 2460. Second target: 2520
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Disclaimer: The above content only represents the author's personal opinion and is for communication and sharing purposes only. It does not represent the position or viewpoint of AiCoin and does not constitute any investment advice. Based on this investment, there may be external contacts, which have nothing to do with AiCoin, and the consequences shall be borne by oneself.
