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Spectra Markets CEO: Strong Non-Farm Payrolls Data May Weaken Fed Rate Cut Expectations, Further Suppressing BTC Price
Summary: Spectra Markets CEO Brent Donnelly plans to set buy orders for Bitcoin at $94,000 and $82,000 to counter potential market panic-induced declines. He noted that the trend of digital assets as corporate treasury assets is waning, coupled with the seasonal shift towards bearish sentiment in the Bitcoin halving cycle, could lead Bitcoin into a long-term ...
Spectra Markets CEO Brent Donnelly plans to set buy orders for Bitcoin at $94,000 and $82,000 to counter potential market panic-induced declines. He noted that the trend of digital assets as corporate treasury assets is waning, coupled with the seasonal shift towards bearish sentiment in the Bitcoin halving cycle, could lead Bitcoin into a long-term bear market. Historical data shows that Bitcoin bull markets typically peak 16 to 18 months after halving events, followed by a year-long bear market. Given that the last halving occurred in April 2024, this pattern suggests the current bull market may be nearing its end. From a technical perspective, Bitcoin recently broke below the key support level of $111,982, confirming a double top breakout, with this level now acting as resistance. Meanwhile, US non-farm payroll data will be released on Friday, and if the data exceeds expectations, it may weaken Fed rate cut expectations, further suppressing Bitcoin prices.
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Link: Spectra Markets CEO: Strong Non-Farm Payrolls Data May Weaken Fed Rate Cut Expectations, Further Suppressing BTC Price [Copy]
