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8.22 BTC ETH Morning Analysis:
BTC can fluctuate in the range of 112900-113400, with a target range of 111800-111000.
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On August 22, it was reported that it is important to distinguish between the performance of the U.S. stock market and the overall economy. Pinehill stated in a report that the two are not the same. The company added that the S&P 500 index has risen nearly 10% year-to-date, a significant increase, but the process has been bumpy, with about a 20% pullback in April. However, this performance obscures some facts, such as the annualized growth rate of real consumer spending in the first half of 2025 being 1%, while the real GDP growth rate has been slowing down. Pinehill added that in light of these indicators, a Bloomberg survey of economists shows that the average probability of a recession in the U.S. in the next year is 35%, which is not surprising.