Honestly, I’m setting my alarm earlier than usual tomorrow—not to watch the markets, but to follow the midterm election results as they come in.
The market is still sluggish tonight: $BTC is around 77,300, down less than 1% on the day; $ETH is hovering around 2,290. The broader market isn’t giving me much to go on, so I’m more focused on these three things tomorrow.
1. Election results: They’ll come in from tomorrow morning through midday Beijing time, and expectations around regulation are likely to shift with them. Sentiment at the open is especially prone to overreacting.
2. ADP employment data at around 9:15 p.m. tonight. The market expects about 69,000 jobs. It’s a preview of Friday’s nonfarm payrolls and offers an earlier read on the job market than the headline figures.
3. On the altcoin front, the claim window for Aster’s Phase 6 airdrop will open—and fake claim links tend to pop up at times like this. HYPE’s unlock is also on the calendar for Friday, so I’m not keen to bet on a direction between tomorrow and Thursday.
For now, I’m watching the key range between 76,300 and 78,000: if we can’t reclaim 78,000, I’m not inclined to take that little altcoin bounce seriously. If we break below the intraday low, I’ll reassess the previous low.
What do you think will happen once the election results come in—will $BTC first rally on sentiment, or take a hit before grinding along until the nonfarm payrolls report?
These are just my personal views and not investment advice. Markets involve risk.
The market is still sluggish tonight: $BTC is around 77,300, down less than 1% on the day; $ETH is hovering around 2,290. The broader market isn’t giving me much to go on, so I’m more focused on these three things tomorrow.
1. Election results: They’ll come in from tomorrow morning through midday Beijing time, and expectations around regulation are likely to shift with them. Sentiment at the open is especially prone to overreacting.
2. ADP employment data at around 9:15 p.m. tonight. The market expects about 69,000 jobs. It’s a preview of Friday’s nonfarm payrolls and offers an earlier read on the job market than the headline figures.
3. On the altcoin front, the claim window for Aster’s Phase 6 airdrop will open—and fake claim links tend to pop up at times like this. HYPE’s unlock is also on the calendar for Friday, so I’m not keen to bet on a direction between tomorrow and Thursday.
For now, I’m watching the key range between 76,300 and 78,000: if we can’t reclaim 78,000, I’m not inclined to take that little altcoin bounce seriously. If we break below the intraday low, I’ll reassess the previous low.
What do you think will happen once the election results come in—will $BTC first rally on sentiment, or take a hit before grinding along until the nonfarm payrolls report?
These are just my personal views and not investment advice. Markets involve risk.