Bitunix analysts: Service industry PMI is lower than expected, price pressure is rising, BTC shocks focus on 93K support "
On May 6, the United States released a number of service industry data, showing that the economy is slowing but inflationary pressure remains strong. S&P's global services industry PMI reported 50.8, lower than expected and previous values, and the expansion momentum of the service industry was close to stagnation. The ISM non-manufacturing PMI reported 51.6, also lower than expected, indicating weak domestic demand. The non-manufacturing price payments index rose to 65.1, a record high in nearly a year, and inflationary pressures rose, making it more difficult for the Fed to shift to easing. Amid the contradiction between a weakening economy and strong inflation, the market wait-and-see mood is heating up. Bitcoin has fallen from a high of 97.8K and lacks clear upward momentum. Bitunix analysts suggest: Current data makes it extremely unlikely that the Federal Reserve will cut interest rates this week, and the market may continue to fluctuate. Bitcoin's short-term support focuses on 93K, and it is feared to test back 88K if it falls below. The operation is recommended to conservatively control positions, observe subsequent CPI and PPI, and wait for a clear direction to emerge.
Disclaimer: The views in this article are from the original Creator and do not represent the views or position of Hawk Insight. The content of the article is for reference, communication and learning only, and does not constitute investment advice. If it involves copyright issues, please contact us for deletion.