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Trump nominates dovish advisors to the Fed, Bitcoin rebounds or approaches $126,000.
On August 11, a researcher from a certain research institution pointed out that Trump nominated his long-term economic advisor Stephen Moore to serve on the Federal Reserve Board of Governors, which strengthened the market's expectations for future easing policies by the Fed. Moore advocates for interest rate cuts, contrasting with Powell's cautious stance, and has driven a recent rebound in risk assets such as Bitcoin.
This week, the market is focused on three key data points: July CPI, PPI, and retail sales. If inflation data comes in higher than expected, investors may reduce their bets on rate cuts, leading to a stronger dollar and pressure on the crypto market; if retail sales are weak, it could support expectations for a rate cut in September, benefiting risk assets to continue rising.
In addition, on the geopolitical front, Trump will meet with Putin in Alaska on August 15 to discuss Ukraine and bilateral relations, which may affect market risk appetite.
Overall, the cryptocurrency market this week may be data-driven, with increased volatility in sentiment. In the scenario of moderate inflation and weak retail sales, Bitcoin is expected to reach $126,000; if inflation heats up, caution is needed regarding the risk of a pullback to the $116,000–$118,000 range.