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NFP came out 254k with unemployment rate at 4.1%. Market is moving on the on 254k headline number but be cautious as the unemployment number negates it somewhat.

Seeing the long positioning flushed out in BTC on the geopolitical escalations. Using this as an opportunity to buy into for the Q4 liquidity impulse 🦁

Overview:
We gave notice that short term indicators were flagging potential pullbacks were likely in the inmediate term. See the Stabelcoin Dominance Chart and the Overheating charts we posted earlier. We also mentioned that the bigger picture indicators are flashing Bullish signals. Mainly the pickup of liquidity conditions and Coin velocity between exchanges. We see short term price actioned dampened as the market takes some time to refuel. This is expected especially going into month and quarter end. We wait for short term indicators to flip back into bullish signals to put on risk aggressively. Q4 liquidity conditions are expected to pick up massively however we are expecting a short term drainage of liquidity going into month end before we refuel. PCE data last week came out in line which re-inforced the markets beliefs inflation is cooling and giving the FED more scope to cut rates into the election time. We will be monitoring interest rates markets closely going forward.

The main U.S data coming out this week will be the Non-Farm Payrolls numbers. Traders will be watching this very closely to see if softening in the labour market is holding. We will post a snapshot of the data/expectations going into the release showing what trading desks are looking for.

In Summary:
Bullish stance is looking constructive on the bigger picture indicators Short term indicators were flashing pullbacks were likely (see charts from last week) We are expecting markets to refuel in the short term and are waiting for short term indicators to flip bullish before putting risk on aggressively into the Q4 liquidity impulse we are expecting.