President of Spectra Markets: If the non-farm data is stronger than expected, it may weaken the Fed's rate cut expectations, further suppressing BTC prices

ChainCatcher news, Spectra Markets President Brent Donnelly plans to set buy orders at $94,000 and $82,000 for Bitcoin to address potential market panic sell-offs. He noted that the enthusiasm for digital assets as corporate treasury assets is waning, coupled with seasonal factors of the Bitcoin halving cycle turning bearish, which may lead Bitcoin into a prolonged bear market.

Historical data shows that Bitcoin bull markets typically peak 16 to 18 months after halving events, followed by a year-long bear market. Given that the last halving occurred in April 2024, this pattern suggests the current bull market may be nearing its end. Technically, Bitcoin recently broke below the key support level of $111,982, confirming a breakout of the double top pattern, which has now become a resistance level.

Meanwhile, U.S. non-farm payroll data will be released on Friday, and if the data is stronger than expected, it may weaken the Federal Reserve's rate cut expectations, further suppressing Bitcoin prices.