Last night, I managed to earn $53,000. This is my biggest overnight gain Thoughts on the market on 06/29/2022 Bitcoin was in the range of 20155-21215 during the day. At the time of writing, Bitcoin is worth 20327. Market capitalization is 913 billion, the dominance index is 42.5%, the fear index is 13. Stock indices were decreasing yesterday. Nasdaq fell 2.98%, Dow Jones fell 1.56%, S&P 500 became cheaper by 2.01% and closed at 3821. The dollar index rose and is now above 104.2 Now the S&P 500 futures are in a slight plus, Asian indices are falling, the dollar index is almost in place . Yesterday the US Consumer Confidence Index came out. The index fell, in the market expectations of recession and stagflation. The Fed started raising the rate too late (previously, the rate hike always started at 2.5% inflation, and now at 8.5%), so it is strange to expect that this will quickly and tangibly affect inflation. Especially when you consider what is happening in the energy sector. A recession is also indicated by the price of copper (a reliable leading indicator), which continues to decline. Either news about the distribution of money, or a sharp improvement in the geopolitical situation can bring positive to the market. The first option is much more likely than the second; besides, they are already starting to do it, he said in a review yesterday. I think that before the release of inflation data for June and the July meeting of the Fed, there will be no strong movements in the market, the S&P 500 will walk between 4000 and 3600 Last week, the stock market, but quickly fell below 20500 on the falling. But this seems to be a weakness. Look at the wave of negativity that has hit the crypto market since the beginning of May. First Luna's scam, then Celsius' insolvency, then ZAC's default. And all during a crash in the stock market. If, with such external factors, Bitcoin only fell from the range of 28000-32000 to 20K, this is not weakness, but strength and stability. At the same time, even this drop was mainly due to forced sales (pledges and liquidations). Plus, the deer that came to the market in 2020-2021 and see for the first time that it turns out that it can not only grow, but also fall. Everything is classic. Large owners do not sell at a loss, many are buying Bitcoin. © CryptoGuru
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