TechFlow news: Daniel Yan, founder and CIO of Kryptanium Capital and co-founder of Matrixport, said the market has recovered from recent lows over the past week, with BTC and SOL consolidating at key technical levels. While he believes a breakout is possible, he cautioned that the current situation resembles early June, when BTC attempted to break above the critical 71,500 level but faced a sharp downturn following strong NFP data.
Yan remains overall bullish for the third quarter, expecting improved liquidity conditions and resolution of the Mt Gox situation. However, he maintains caution ahead of the upcoming NFP data, warning of a potentially similar market pattern. Additionally, June's CPI inflation figures will be a key indicator—while the Cleveland Fed forecasts acceptable June numbers, expectations for July are weaker. He expressed concern over seasonal fluctuations in energy prices, noting that rebounds in oil and gas prices could impact inflation data.
Yan advises paying attention to Powell's speech tonight at the ECB event to understand his view on the current macroeconomic environment.
