Bitcoin Investing Must-Haves(9/2-9/8)
Bitcoin Investing Must-Haves, A Sneak Peek at This Week's Big Events (9/2-9/8)
This Friday's unemployment and non-farm payrolls data are noteworthy, and two weeks later is the Fed's interest rate meeting. Looking at the current trading data, there is a 70% probability of a 25Bp rate cut and a 30% probability of a 50Bp rate cut. there is a real possibility of a 50Bp rate cut if there is more pressure on economic data this month.
The cryptocurrency market is very weak, in previous years, September has been poor market, this year's September trend is not optimistic. The weakest is still ETH, now Gas is only 0.6Gwei, a record low. We have mentioned the weakness of ETH many times in the second half of this year, and from what we see now, this situation has not improved in the slightest.
🌟 Heavyweight events this week:
9/2 Monday
💼 U.S. stock market closed for the day
9/4 Wednesday
💼 Bank of Canada announces interest rate resolution
9/5 Thursday
💼U.S. initial jobless claims for the week
💼US ADP employment for August
💼Fed releases brown book on economic conditions
9/6 Friday
💼 U.S. Unemployment Rate for August
💼 U.S. non-farm payrolls, quarterly adjusted, for August
💼Fed official speeches
📌 Crypto Market Outlook:
The crypto market is weak, investor confidence is severely low, and IVs are relatively stable across all major terms, with the mid to long term continuing to fall back slightly and the short to medium term rebounding slightly. Options trading is starting to move closer to the US election, with options IV for the November 8 expiration significantly higher than other terms.
Short- and medium-term IVs are now at yearly lows and remain under downward pressure this week. There is little chance of a rebound in the ETH rate at this point in time, and bearish proportional spreads or cross-currency short rates are cost-effective.
📌 crypto interest rate market, Bitfinex interest rate market is relatively calm, encountering the right interest rate orders can be actively traded
This Friday's unemployment and non-farm payrolls data are noteworthy, and two weeks later is the Fed's interest rate meeting. Looking at the current trading data, there is a 70% probability of a 25Bp rate cut and a 30% probability of a 50Bp rate cut. there is a real possibility of a 50Bp rate cut if there is more pressure on economic data this month.
The cryptocurrency market is very weak, in previous years, September has been poor market, this year's September trend is not optimistic. The weakest is still ETH, now Gas is only 0.6Gwei, a record low. We have mentioned the weakness of ETH many times in the second half of this year, and from what we see now, this situation has not improved in the slightest.
🌟 Heavyweight events this week:
9/2 Monday
💼 U.S. stock market closed for the day
9/4 Wednesday
💼 Bank of Canada announces interest rate resolution
9/5 Thursday
💼U.S. initial jobless claims for the week
💼US ADP employment for August
💼Fed releases brown book on economic conditions
9/6 Friday
💼 U.S. Unemployment Rate for August
💼 U.S. non-farm payrolls, quarterly adjusted, for August
💼Fed official speeches
📌 Crypto Market Outlook:
The crypto market is weak, investor confidence is severely low, and IVs are relatively stable across all major terms, with the mid to long term continuing to fall back slightly and the short to medium term rebounding slightly. Options trading is starting to move closer to the US election, with options IV for the November 8 expiration significantly higher than other terms.
Short- and medium-term IVs are now at yearly lows and remain under downward pressure this week. There is little chance of a rebound in the ETH rate at this point in time, and bearish proportional spreads or cross-currency short rates are cost-effective.
📌 crypto interest rate market, Bitfinex interest rate market is relatively calm, encountering the right interest rate orders can be actively traded
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