Kryptanium Capital Founder: Bullish on Q3 overall, cautious about the upcoming NFP data release

In a ChainCatcher message, Daniel Yan, the founder and Chief Information Officer of Kryptanium Capital and co-founder of Matrixport, stated that the market has recovered from its lows over the past week, with BTC and SOL consolidating at key technical levels. Although he believes there is potential for a breakthrough in the market, he also reminds us that the current situation is similar to early June when BTC attempted to break through the key level of 71500 but strong NFP data led to a significant market drop.

Yan is bullish overall for Q3, expecting liquidity conditions to improve and Mt Gox's incident will become history. However, he remains cautious about upcoming NFP data as it could lead to similar market patterns. In addition, June CPI inflation data will be a key indicator to watch; Cleveland Fed expects June's figures are acceptable but anticipates worse results for July. He expressed concern about seasonal fluctuations in energy prices and believes rebounds in oil and gas prices will affect inflation data.

Yan suggests paying attention to Powell's speech at European Central Bank tonight for his views on current macroeconomic conditions.