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Bitunix Analyst: ADP Data Surprises, Fed Rate Cut Expectations Rise, BTC Gathers Strength to Challenge 112,000 Resistance Level
Summary: Bitunix analysts reported that BTC has broken through the short-term downtrend line, currently trading at around 109,485 USDT, nearing the resistance level of 110,348 USDT, with support levels at 105,000 and 102,560 below. The market still has upward potential if these levels hold. This movement is related to the disappointing ADP employment data released in ...
Bitunix analysts reported that BTC has broken through the short-term downtrend line, currently trading at around 109,485 USDT, nearing the resistance level of 110,348 USDT, with support levels at 105,000 and 102,560 below. The market still has upward potential if these levels hold. This movement is related to the disappointing ADP employment data released in the US in June, leading to a 25.3% increase in market expectations for a rate cut in July. Gold prices have risen, the US dollar is under pressure, and crypto assets are strengthening simultaneously. Bitunix analysts suggest that the weak ADP data supports market expectations for a Fed rate cut, favoring risk assets in the short term. If prices can hold above 110,348 USDT, they may challenge the resistance level at 112,000; if there is a pullback, opportunities in the 106,000–105,000 range should be monitored. It is recommended to pay attention to today's release of non-farm payrolls and initial jobless claims data for confirmation of the overall market direction.
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Link: Bitunix Analyst: ADP Data Surprises, Fed Rate Cut Expectations Rise, BTC Gathers Strength to Challenge 112,000 Resistance Level [Copy]
