Essential for Bitcoin investment(8/26-9/1)
Essential for Bitcoin investment, this week's heavyweight events first look (8/26-9/1)
Powell's speech at the annual meeting of global central banks in Jackson Hole made it clear that the Fed will cut rates in September, and there is now a greater consensus for a 25Bp cut, and there is also the possibility of a 50Bp cut if economic data is under pressure this month.
The clear promise of a rate cut brought a lot of confidence to the market, and the major cryptocurrencies rallied, but the subsequent trend is still highly uncertain.
There are several important economic data this week, as well as speeches from key figures, the core of which still revolves around the Fed's September rate cut. Also of note is Russia's cryptocurrency bill, as crypto begins to make its way to the big stage.
🌟 Heavyweight events this week:
8/27 Tuesday
💼 2024 FOMC Voter and San Francisco Fed President Daley Speaks
8/28 Wednesday
💼 Fed Governor Waller speaks
8/29 Thursday
💼 U.S. initial jobless claims for the week
💼2024 FOMC Voter and Atlanta Fed President Bostic speaks on economic outlook
8/30 Friday
💼 U.S. core PCE price index annualized rate for July
💼U.S. final University of Michigan consumer confidence index for August
💼2024 FOMC Voter and Atlanta Fed President Bostic speaks on monetary policy and economic outlook
💼Russia to begin enforcing digital currency cross-border payments law and crypto mining legalization bill
📌 Crypto Market Outlook:
Markets have rallied, spurred by expectations of a rate cut, and confidence has been restored as IVs continue to fall across all major terms. As we mentioned last week, short to medium term IVs will drop another notch regardless of the outcome of the annual central bank meeting. IV is currently slightly below average and remains under downward pressure this week.
ETH continues to slump after the Cancun upgrade, now Gas is below 0.8 Gwei, ETH consumption is massively lower leading to a deflationary flywheel failure, and at the moment there is no chance of a rebound in the ETH exchange rate, with the bearish ratio spreads being very good value for money.
📌 crypto interest rate market, Bitfinex interest rate market is relatively calm, encountering the right interest rate orders can be actively traded, especially when there is a market worthy of special attention.
Powell's speech at the annual meeting of global central banks in Jackson Hole made it clear that the Fed will cut rates in September, and there is now a greater consensus for a 25Bp cut, and there is also the possibility of a 50Bp cut if economic data is under pressure this month.
The clear promise of a rate cut brought a lot of confidence to the market, and the major cryptocurrencies rallied, but the subsequent trend is still highly uncertain.
There are several important economic data this week, as well as speeches from key figures, the core of which still revolves around the Fed's September rate cut. Also of note is Russia's cryptocurrency bill, as crypto begins to make its way to the big stage.
🌟 Heavyweight events this week:
8/27 Tuesday
💼 2024 FOMC Voter and San Francisco Fed President Daley Speaks
8/28 Wednesday
💼 Fed Governor Waller speaks
8/29 Thursday
💼 U.S. initial jobless claims for the week
💼2024 FOMC Voter and Atlanta Fed President Bostic speaks on economic outlook
8/30 Friday
💼 U.S. core PCE price index annualized rate for July
💼U.S. final University of Michigan consumer confidence index for August
💼2024 FOMC Voter and Atlanta Fed President Bostic speaks on monetary policy and economic outlook
💼Russia to begin enforcing digital currency cross-border payments law and crypto mining legalization bill
📌 Crypto Market Outlook:
Markets have rallied, spurred by expectations of a rate cut, and confidence has been restored as IVs continue to fall across all major terms. As we mentioned last week, short to medium term IVs will drop another notch regardless of the outcome of the annual central bank meeting. IV is currently slightly below average and remains under downward pressure this week.
ETH continues to slump after the Cancun upgrade, now Gas is below 0.8 Gwei, ETH consumption is massively lower leading to a deflationary flywheel failure, and at the moment there is no chance of a rebound in the ETH exchange rate, with the bearish ratio spreads being very good value for money.
📌 crypto interest rate market, Bitfinex interest rate market is relatively calm, encountering the right interest rate orders can be actively traded, especially when there is a market worthy of special attention.
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