Madman said…

Although today's CPI data is 0.1% higher than expected month-on-month, considering that crude oil has fallen by 20%, next month's CPI data will pick up. It will take some time for oil prices to be transmitted to food and services. Therefore, the probability of a 50 basis point interest rate hike in December is extremely low. The expected 25 basis points is still a high probability. The United States has once again played expectation management. When the 25 basis points in December landed, the market cheered again.

Bitcoin has not been doing well recently. ETFs have flowed out sharply. Listed companies are selling, miners are selling, and they are under severe pressure. The market value of USDT has dropped by 6.6 billion US dollars in 60 days, and a large amount of funds have been redeemed. This has something to do with the sharp decline in US AI stocks. After all, traditional funds come from tradition. When there is a need for rebalancing of assets, they first have to sell coins and return them. However, Bitcoin is already very resilient, although it fell below 200 Daily moving average, overall I am still optimistic about the market outlook. Firstly, I am confident in the big cycle of Bitcoin. Secondly, I believe that the AI bull market is far from over. This decline is likely to be a collapse from the hardware layer to the application layer.

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〈[Madman Talks about Trends] Bitcoin fell below the 200-day moving average, and the overall market outlook is still optimistic〉This article was first published inBlock Guest》.