BTC $84,565.80 -0.40%
ETH $2,677.80 -0.79%
BNB $770.88 +0.08%
XRP $1.49 -0.50%
SOL $118.98 +0.42%
TRX $0.3360 +0.14%
DOGE $0.0936 -1.53%
ADA $0.2472 -1.03%
BCH $307.37 +0.07%
LINK $13.99 -2.60%
HYPE $88.58 +0.90%
AAVE $182.26 +7.87%
SUI $1.13 -3.12%
XLM $0.2172 -1.32%
ZEC $1,346.37 -0.07%
AAPL $332.91 +0.98%
AMZN $250.52 +0.50%
GOOGL $343.24 +1.25%
MSFT $515.37 -0.06%
META $728.58 -0.10%
NVDA $234.73 +1.55%
TSLA $371.03 +3.77%
SNDK $1,723.53 -2.92%
INTC $119.89 -0.86%
SPCX $158.52 +5.64%
MU $1,075.83 -0.00%
AMD $631.53 +2.55%
BTC $84,565.80 -0.40%
ETH $2,677.80 -0.79%
BNB $770.88 +0.08%
XRP $1.49 -0.50%
SOL $118.98 +0.42%
TRX $0.3360 +0.14%
DOGE $0.0936 -1.53%
ADA $0.2472 -1.03%
BCH $307.37 +0.07%
LINK $13.99 -2.60%
HYPE $88.58 +0.90%
AAVE $182.26 +7.87%
SUI $1.13 -3.12%
XLM $0.2172 -1.32%
ZEC $1,346.37 -0.07%
AAPL $332.91 +0.98%
AMZN $250.52 +0.50%
GOOGL $343.24 +1.25%
MSFT $515.37 -0.06%
META $728.58 -0.10%
NVDA $234.73 +1.55%
TSLA $371.03 +3.77%
SNDK $1,723.53 -2.92%
INTC $119.89 -0.86%
SPCX $158.52 +5.64%
MU $1,075.83 -0.00%
AMD $631.53 +2.55%

clo

All
Article
Flash

Huobi HTX Chief Analyst Cloud: The Bitcoin pullback is a normal retracement, and the differentiation of altcoins may continue until this week's data is released

The 10-year U.S. Treasury yield returned to above 5.2% overnight, reaching a high not seen since 2007, putting pressure on global risk assets. Bitcoin has fallen back to around $83,000, with altcoins experiencing even larger declines. In this regard, Cloud, the chief analyst at Huobi HTX, believes that this drop is more akin to a normal pullback after a rebound and does not constitute the starting point of a trend reversal. The high U.S. Treasury yields mainly suppress valuations, with limited impact on the overall liquidity. The funding structure and holding costs of the crypto market itself have also not been disrupted. This round of decline seems more like a clearing of positions before key data is released.It is important to be cautious about the divergence between Bitcoin and altcoins. During a phase of marginal liquidity tightening, funds tend to concentrate on the most certain top assets; altcoins lack incremental funds to support them, and with heavier leverage, their pullbacks are therefore amplified. This divergence is likely to continue before the release of this week's PCE and non-farm data. If the data falls short of expectations, altcoins will have greater elasticity and thus higher risks; if the data exceeds expectations, Bitcoin's relative strength will be more pronounced. Whether Bitcoin can stabilize at key support levels will be the main signal to determine if this round of pullback has ended.Note: The content of this article does not constitute investment advice, nor does it constitute any offer, solicitation, or recommendation of investment products.

Next week, the U.S. non-farm payroll and core PCE will be announced, and Micron will release its earnings report after the market closes on Wednesday

Next week's macro data focus will be on Friday's U.S. non-farm payroll report, including non-farm employment population, unemployment rate, and average hourly wage, which are directly related to the Federal Reserve's interest rate path and are important employment data ahead of the October monetary policy meeting. According to Beijing time, on Wednesday at 20:15, the U.S. September ADP employment figures will be released, and at 20:30, the U.S. August core PCE price index year-on-year will be announced; on Thursday at 20:30, the number of initial jobless claims in the U.S. for the week ending September 26 will be released, and on Friday at 20:30, the U.S. September seasonally adjusted non-farm employment population and unemployment rate will be published.Regarding officials' speeches, on Thursday at 16:00, Bank of England Governor Bailey will speak, and at 21:30, European Central Bank President Lagarde will speak. Starting from early Wednesday, Federal Reserve officials will have a series of public activities; 2027 FOMC voting member and Chicago Fed President Goolsbee, along with 2028 FOMC voting member and St. Louis Fed President Bullard, will speak in succession, and FOMC permanent voting member and New York Fed President Williams will deliver a keynote speech at the University at Buffalo. On Thursday, Federal Reserve Governor Cook, Minneapolis Fed President Kashkari, and Richmond Fed President Barkin will speak in turn, and on Friday, Williams and Dallas Fed President Logan will still have public activities. In terms of U.S. stocks, Micron will release its earnings report after the market on Wednesday, and Nike will announce its latest quarterly earnings report on Thursday, with both companies corresponding to storage chips and consumer demand.
app_icon
ChainCatcher Building the Web3 world with innovations.