CoinWorld News Report:
Over the past week, the market has experienced a continuous deep adjustment and is currently stabilizing. Has the opportunity for bargain hunting emerged?
Recently, there has been a significant increase in deficit expectations by Americans, reflecting intention to support the economy through fiscal policies. It is expected that restarting fiscal efforts will further support market liquidity the real economy, possibly reducing the urgency and extent of interest rate cuts. Influenced the performance of US stocks, Bitcoin rebounded after falling below $60,000 this week, whilecoins continued to underperform compared to value coins.
[Image]
Macroeconomic Environment:
Recently, on US consumption and real estate have been weak. Although non-farm payrolls data for May exceeded Bloomberg’s expectations (similarly for other indicators), there are signs of further in overall employment data. Business investment continues its recent trend of improvement. Overall, US growth has cooled down to some extent but still maintains a certain resilience.
The deficit for fiscal year 2024 projected to reach $1.9 trillion dollars, which is roughly equal to the $1.86 trillion announced by the Office of Management and Budget (OMB). The restart of fiscal efforts will further support market liquidity and the real economy; however, there be reduced urgency and extent for interest rate cuts as a result.This greatly affects market conditions.
[Image]
Affected by sell-offs in Mentougou District*, Bitcoin (BTC) prices have been under sustained pressure this week with altcoins experiencing greater declines. The US dollar index