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Bitcoin approaches the 70,000 level again, waiting for tonight's "Non-Farm Payroll" verdict
Is this rollercoaster ride enjoyable? Bitcoin yesterday retraced to 66,000 and quickly rebounded, and this afternoon it gained further momentum, approaching the 70,000 mark. Ethereum also followed suit, climbing back above $2000 from $1930.
Currently, the market is being pulled by two forces, with US-Iran conflicts causing: sometimes risk aversion to rise, sometimes risk appetite to decline. Everyone is waiting for data: tonight's US ADP employment report (Non-Farm Payroll) is the real "referee." The outcome of this data directly affects the Federal Reserve's future interest rate decisions. No one is confident right now, so no one dares to make a move.
From a technical perspective, it's very clear—whether on the four-hour chart or the daily chart, the Bollinger Bands' upper and lower bands are flat, indicating that the market currently has no clear direction and is simply in a range-bound oscillation.