Spectra Markets President: If non-farm data is stronger than expected, it may weaken the Fed's expectation of interest rate cuts and further suppress BTC prices

According to ChainCatcher, SpectraMarkets president Brent Donnelly plans to set up a pay order for Bitcoin $94,000 and $82,000 to cope with potential market panic declines. He pointed out that the craze for digital assets as corporate treasury assets is declining, and the seasonal factors of the Bitcoin halving cycle turn bearish may lead to Bitcoin entering a long-term bear market. Historical data show that Bitcoin’s bull market usually peaks 16 to 18 months after the halving event, and then enters a year-on-year bear market. Given that the last halving occurred in April 2024, this pattern suggests that the current bull market may be nearing its end. Technically, Bitcoin has recently fallen below the key support level of $111,982, confirming a breakthrough in the double top pattern, which has now become a resistance level. Meanwhile, U.S. non-farm employment data will be released on Friday. If the data is stronger than expected, it may weaken the Fed's expectation of a rate cut and further suppress the price of Bitcoin.