BTC forging real gold in the fire gearing up for the second half of 2024 as September rate cut expectations rise Bitcoin set to surge

Coin World reported:
Bitcoin has performed poorly in the past month, and today it fell below the 60,000 mark twice.
In recent days, influenced by some data from the United States, market expectations for a September rate cut by the Federal Reserve have increased.
Today’s data further supports this.
[Continued Nine Weeks of Increase: US Unemployment Claims Reach Near-Yearly High]
On July 3, it was reported that the number of people applying for unemployment benefits in the United States has risen for the ninth consecutive week, marking the longest continuous increase since 2018. This indicates that more and more people are having difficulty finding new jobs. Data released by the US Department of Labor on Wednesday showed that for the week ending June 22, the number of people continuously claiming unemployment benefits increased to 1.86 million, the highest level since November 2021. The number of initial claims for unemployment benefits increased by 4,000 people to 238,000 last week.
This indicates that ordinary Americans are facing a serious unemployment problem, and the real economy is not performing as well as expected by Federal Reserve officials.
These US data are too fake. I remember that the last time the stock market fell was because the employment figures were strong, which reduced expectations of a rate cut.
In just one month, the number of unemployed people has increased, which should normally lead to higher rate cut expectations and be positive for risk investments.
But in the past two days, silver, gold, and US stocks have remained relatively strong, while Bitcoin has shown an independent downward trend.
So some people were worried before that the high-risk crash in the US stock market would affect Bitcoin, but I think it’s just groundless fear. It may have a short-term impact, but in the long run, it may actually be positive.
The recent control of Bitcoin’s trend has been very contrary to market trends and is a completely independent movement.
This unconventional trend, in my opinion, clearly indicates preparation for a breakthrough.
Because everyone knows that there will be rate cut expectations this year, and it will definitely rise.
I personally believe that the rate cut market will be divided into three stages:
Within the three months before the rate cut, there will be a bull market for one to two months!
One to three months before and after the rate cut, it will be a bear market!
After three rate cuts or half a year, when enough off-exchange liquidity has accumulated, it will be a bull market!
In addition to other analyses, news, and positive factors in the market, there is no need to be excited or panic.
Just follow the plan, look at the cycle, and position in advance.
The recent fluctuations in the past few months have been difficult to play, and there are definitely many trapped investors. The profits gained have retreated by several hundred million.
Personally, I feel okay because I have made some trades to make up for the retracement.
Let me talk about what I have been doing recently, which is similar to what I did in May and June.
For these two to three months, my approach has been to buy at appropriate positions, sell when there is a decent profit, and use reasonable leverage.
The most concentrated buying I did recently was when Bitcoin briefly touched around 60,000 a couple of weeks ago, and I bought sol, jto, dot, ordi, and so on.
During this period, I made a profit of 20-30 points and sold when it reached the resistance level.
Even if Bitcoin falls back below 60,000 today, it will be difficult to find the same opportunity as last time.
During these two weeks, I didn’t make any purchases; I just held short positions and waited, needing enough patience.
Starting today, I will start placing some low-priced orders and slowly buy back.
Those who pay attention will notice that I have been buying around the 60,000 position these few times because I believe that there is a strong consensus here, assuming that the bull market is not over.
Short-term trading is a helpless strategy for a volatile market. Otherwise, many altcoins have fallen by double digits in the past two months, resulting in significant losses.
But relying too much on short-term trading is not advisable, as it may cause us to miss out when the big bull market comes. By mid-July, I may reduce short-term trading and patiently wait for the market before the rate cut.
This bull market will be very challenging to navigate. Based on Bitcoin’s washing cycle and rate cut process, this bull market will have a longer distribution time than before, with a bull phase followed by a bear phase. Thus, we need even more patience.
Everyone should remember to position themselves at appropriate opportunities and operate altcoins based on Bitcoin’s position. If Bitcoin is hovering at a high level, reduce holdings and buy less. Being too eager to go all-in will ultimately lead to being trapped, with little room for error.
60,000 is a turning point, and I believe this is a good position for positioning.
As the saying goes, I hope there will be negative news like regulation, as opportunities will definitely come with it, and positive news may not bring opportunities.