The data of the entire network's liquidations is shocking, the truth behind the 230,000 retail investors going to zero overnight!
Currently, the market is waiting for several key messages. First is the PPI Producer Price Index released by the U.S. tonight at 8:30 PM, which will affect the market's expectations for the Federal Reserve's interest rate cut timing. If the data shows inflation cooling, market sentiment will improve, possibly driving funds into risk assets, including cryptocurrencies. Conversely, if the data is above expectations, it may reinforce expectations for maintaining high interest rates, putting pressure on the market.
Secondly, attention needs to be paid to the latest statements from U.S. regulatory agencies regarding the Ethereum spot ETF. Any positive progress could serve as a direct catalyst for driving ETH prices up. Conversely, if approvals continue to be delayed or unfavorable news emerges, it will dampen buying enthusiasm.
Combining technical and news aspects, the current market is in a wait-and-see state. Prices are fluctuating within a narrow range, waiting for news to provide direction.
In terms of operations, a cautious approach is recommended. Before key messages are released, market volatility may increase, but the direction remains unclear. At this time, the risk of heavy trading is high. A more prudent approach is to control positions well and wait for the market to react to the news before looking for opportunities.
I believe that short-term trends are mainly driven by news. Before important economic data is published, the market tends to remain cautious. Technical indicators show a temporary balance of bullish and bearish forces, but this balance can easily be disrupted by news.
The market changes every day, don't get too tense; if you always feel like you're a step behind and fear being disturbed by market noise, feel free to chat in the cryptocurrency community chat room.
