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The ceasefire between Israel and Hamas has temporarily paused the Middle East conflict, and the crypto world immediately focuses on the Federal Reserve's interest rate cuts and trade negotiations. The market is closely watching the Federal Reserve's range-bound situation: Powell states 'wait and see', while Wall Street is hotly discussing rate cut expectations. The trade negotiations are also replaying the 'old script', leaving investors overwhelmed. The performance of coin prices is awkward; although the dollar weakens and the PCE data on Friday paves the way for three rate cuts, it still does not rise but instead suppresses, ignoring the favourable information. After Powell previously 'dampened enthusiasm', the market sees the crypto world like a child throwing a tantrum, indifferent to the good news, insisting on a tough fight with the Federal Reserve. It seems that next week's market will have a good show to watch, and everyone is waiting with anticipation. Due to the impact of the American Independence Day holiday, the Non-Farm Employment Report for June will be released early on July 3rd (Thursday) at 20:30, and on that day, US stocks and CME stock index futures will close early. On July 4th, US stocks will have a day off, and the trading of precious metals, US oil, forex, and stock index futures contracts under CME will end early at 01:00 on July 5th (Beijing Time). The trading of Brent crude oil futures contracts under ICE will end early at 01:30 on July 5th (Beijing Time). The crypto market continues to oscillate within the range over the weekend, focusing on the breakout situation of the resistance platform and promptly adjusting the holdings strategy!
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After a narrow range-bound fluctuation, Bitcoin slightly rose above 108,000, just a step away from the key resistance level of 109,200 USD. The technical analysis shows characteristics of a "critical point game", where the breakthrough of the key resistance level will determine the short-term direction. This level has repeatedly suppressed price movements since March, forming a strong resistance area. If this threshold is broken, it may trigger short-seller stop-losses and technical buying follow-up, pushing the price towards the historical high target of 111,900 USD; conversely, if it retreats again, one should be cautious of the risk of a deep pullback to the 100,000 USD cost support area. It is worth noting that the futures market's open interest has sharply decreased by 7%, and the funding rate and basis are sluggish, reflecting the market's hesitation towards the key resistance level!