What happened to the Bitcoin crash?
Israeli intelligence believes that Iran has decided to attack Israel directly, and the Israeli army has issued a large-scale evacuation order to Khan Yunis. The intensified risk aversion in the Middle East has stimulated the return of funds to the US dollar index, as well as the gold and precious metals markets, weakening the buying of cryptocurrencies.
The market needs to pay attention to the overall economy. The Federal Reserve has not yet given a clear commitment to cut interest rates, and it is impossible to really open the long market of Bitcoin. The United States will release important economic indicators such as the Producer Price Index (PPI) on Tuesday and the Consumer Price Index (CPI) on Wednesday. This will become the basis for the Federal Reserve and the market to judge whether inflation is further moving in the right direction and when to start cutting interest rates.
This week, the United Kingdom and the eurozone will successively update important economic data such as gross domestic product (GDP) and CPI. In the face of growing concerns about a recession in the United States, market investors are observing whether this situation has signs of spreading globally.
