EMC Labs: The big sell-off is over, and the market has entered the "buy and sell macro data" mode

According to ChainCatcher, EMC Labs, a crypto asset investment research institution, released a report for April 2024 titled "Macro-Financial Crisis Flashes, On-site Funds Do Not Move". The report pointed out that the decline of BTC in April was the result of a weak balance between buyers and sellers after its price surged in July when some investors sold off heavily. New entrants chose to wait and see cautiously, while traders who traded based on macro-financial data and technical indicators dominated the market.

Judging from the inflow scale of stablecoins (the second highest since last year), the market's enthusiasm for long positions has not been extinguished. The current adjustment is due to the macro-financial phantom crisis causing the entrants to hold coins and wait and see. Based on this, macro-financial data, especially the Fed's statement on interest rate cuts and changes in core economic data such as non-agricultural employment rates, will dominate the attitude of on-site funds in the future, and thus determine the price trend of BTC, and the market will enter the "buy and sell macro data" mode.