PPI came in soft. Good unemployment numbers, and finally, the labor market is not as weak as expected. Chances of 25bps cut at 85%. No major economic shock is expected. This month markets sold off in worries of fed too late to cut rates and fears of major economic shock. Yesterday's soft CPI and today's good unemployment data are not so worrying, I guess we are past the economic fear.
$BTC should see some recovery this month. If things go smoothly Q4 is going to be BULLISH.
As expected. Market reacting is like non event. Guess Market should keep dragging UP till 60k.
Читать полностью…Harris-Trump debate ends without mention of cryptocurrency.
US 🇺🇸 presidential candidates Harris and Trump debated multiple topics, ranging from abortion rights to Ukraine, but #crypto was not among them.
Despite the prolonged downturn, the cryptocurrency market reached a figure of 60 million active monthly addresses in August.
Читать полностью…📊 Chances of winning 🇺🇸 US Presidential Election :
Trump: 52% chance
Harris: 48% chance
Purely Based on polls and prediction markets
Crypto funds saw ~$600 million in outflows last week, the 2nd largest on record.
This was only below the 2022 levels when cryptocurrencies experienced a severe bear market.
China's state-owned banks have established a $100 billion short position against the US dollar to support the yuan.
Читать полностью…Today’s important macro event.
- Non-farm Employment change
- unemployment rate
This week’s JOLT’s job opening came in much lower than estimates showing weakening labor market. If today’s Non farm employment change prints lower than estimates that further proves labor market is deteriorating and fed will have to make changes in rate cuts faster to prevent labor market crisis.
Risk assets love more rate cuts, that’s BULLISH case scenario for Bitcoin.
$BTC trading at the support is hanging on thin thread. This event could potentially be saviour.
Bitwise chart shows Bitcoin historically pumps in price after being down in September
Bullish.
$BTC at Last line of support 55800 - it's bounce or die time.
if this support broken 50k incoming.
CPI print today. if CPI y/y is below 2.5% - BULLISH. Given the 50bps rate cut probability goes higher.
Читать полностью…Current Global Situation:
1. Stocks can barely hold a daily gain with just 1 green day this month
2. Oil prices are crashing like demand is disappearing
3. Bond prices are rising like we are entering a recession
4. Gold prices are rising like more volatility is coming
5. Mortgage demand is at 30+ year lows like prices are crashing
6. Crypto is nearing a bear market like risk appetite is gone
Spot ETF issuer Bitwise graph showing how Bitcoin is the world's best-performing asset.
Читать полностью…A new report from River, a Bitcoin fintech company, predicts that 10% of U.S.-based companies will convert 1.5% of their treasury reserves—equating to roughly $10.35 billion—into #Bitcoin over the next 18 months
Читать полностью…Bitcoin saw a total of $728 million in withdrawals from exchanges this week.
While addresses holding between 100 and 1,000 #BTC continued to accumulate, despite a decline in prices
55k bids filled. This should be the support. If BTC slips further, that's doomsday. Not gonna knife catch here.
Читать полностью…ANALYST: THE UPCOMING AUGUST JOBS REPORT IS NOT EXPECTED TO SHOW STRONG RESULTS, WHICH WON’T HELP EASE WORRIES ABOUT THE ECONOMY; ECONOMIST PREDICTS THAT THE NUMBER OF JOBS ADDED AND THE UNEMPLOYMENT RATE WILL BE DISAPPOINTING
Читать полностью…Binance founder CZ is permanently banned from managing the exchange under his U.S. plea deal, says CEO Richard Teng
Читать полностью…