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

ChainCatcher news, Daniel Yan, founder and CIO 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. While he believes there is potential for a market breakout, he also cautioned that the current situation is similar to early June, when BTC attempted to break through the critical level of 71500, but strong NFP data led to a significant market decline.

Yan is overall bullish for the third quarter, expecting liquidity conditions to improve and the Mt Gox incident to become a thing of the past. However, he remains cautious about the upcoming NFP data, believing that a similar market pattern may emerge. Additionally, the June CPI inflation data will be a key indicator to watch, with the Cleveland Fed expecting the June data to be decent but having a poor outlook for July data. He expressed concerns about seasonal fluctuations in energy prices, believing that rebounds in oil and gas prices will impact inflation data.

Yan suggested paying attention to Powell's speech at the European Central Bank tonight to understand his views on the current macroeconomic situation.