The market is completely dead. I’ve been sitting in front of my computer for ages and still can’t settle down. If I go live, there aren’t many trading opportunities; if I don’t, I feel like the guys have been looking forward to it all day just to hear me talk crypto.
Volatility in this market is actually worse than on the weekend. Bitcoin is only moving a few hundred dollars up or down, and Ethereum just $30. It’s really not worth trading. Staying out of the market is a strategy too—a good hunter has to learn to wait.
The things worth watching today are crude oil breaking above $100, initial jobless claims on Thursday, and PMI on Friday, though none of them are likely to have much impact.
The main event this month is the October FOMC meeting. The mainstream expectation is that the Fed will pause rate hikes in October, then raise rates by 25 bps in December.
In the short term, we’ll have to watch employment data on Thursday, then PMI and inflation expectations on Friday. Whether BTC and ETH can move higher will depend heavily on U.S. Treasury yields falling.
As we discussed on last night’s livestream, we can only hope for the 10-year U.S. Treasury yield to break below a key level while BTC rises in tandem on strong volume. That would be the best opportunity of this trend for us.
Volatility in this market is actually worse than on the weekend. Bitcoin is only moving a few hundred dollars up or down, and Ethereum just $30. It’s really not worth trading. Staying out of the market is a strategy too—a good hunter has to learn to wait.
The things worth watching today are crude oil breaking above $100, initial jobless claims on Thursday, and PMI on Friday, though none of them are likely to have much impact.
The main event this month is the October FOMC meeting. The mainstream expectation is that the Fed will pause rate hikes in October, then raise rates by 25 bps in December.
In the short term, we’ll have to watch employment data on Thursday, then PMI and inflation expectations on Friday. Whether BTC and ETH can move higher will depend heavily on U.S. Treasury yields falling.
As we discussed on last night’s livestream, we can only hope for the 10-year U.S. Treasury yield to break below a key level while BTC rises in tandem on strong volume. That would be the best opportunity of this trend for us.