Economic data and stock market dynamics last Friday
U.S. economic data: The U.S. core PCE price index for May, released last Friday, recorded an annual rate of 2.6%, the smallest increase since 2017. This data has triggered traders to increase expectations of a Fed rate cut.
Stock market performance: The Nasdaq 100 index broke through the 20,000 mark for the first time during the session, showing strong momentum in the technology sector.
Cryptocurrency dynamics: Despite the volatility of the market, the price of Bitcoin has rebounded after hitting the bottom, and investors need to remain cautious.
Social media investment scam warning
Expert opinion: FTC consumer education expert Andrew Rayo pointed out that sudden investment information on social media is almost always a scam, and consumers should remain vigilant.
Other information on the cryptocurrency market
Industry dynamics: Musk revealed that XAI's GROK2 large model will be launched in August; Coinshares data showed that investors increased their investment in BTC funds in the second quarter; the Web3 field suffered heavy losses due to security issues; the miner surrender indicator reached a level comparable to that after the FTX crash.
Market analysis: Multiple data and studies show that BTC prices may face selling pressure after experiencing a decline, but ETF net inflows and market sentiment suggest the possibility of a bull market return. The proportion of BTC transactions decreased on weekends, and the trading schedule of spot BTC ETF funds changed, reducing BTC price volatility.
Strategy Outlook
Strategist's View: Strategist Seema Shah believes that the PCE data is in line with expectations, but the Fed's interest rate cut expectations may affect market trends. He predicts that the Fed and the European Central Bank may cut interest rates in September, but reminds investors to pay attention to the risks caused by the interest rate cuts not being early enough.
Market sentiment: Entering the third quarter, the market expects that the summer may be flat or slightly down, but the potential listing of the Ethereum spot ETF and the Fed's interest rate cut at the end of the quarter may become the driving force for the bull market. Investors should remain calm and not blindly operate due to market fluctuations.
Important Tips
Risk Warning: The market is volatile and investment should be cautious. The information in this article is completely from public media, reminding investors not to be deceived!
