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Last week's market correction, three major events this week will affect the trend of the currency circle
1. Review of the market correction last week
Last week, Federal Reserve officials unexpectedly released a hawkish signal, and U.S. economic data also dampened expectations for a rate cut. So we have the third major correction since the bull market. During the correction, many investors chose to cut their losses and leave the market, while market makers actively accumulated funds at the bottom. At the same time, capital that had previously been on the sidelines and shorted also took the opportunity to enter the market, which significantly increased the average cost of BTC, and at the same time, the rising selling pressure also decreased accordingly.
2. This week’s market investment strategy reminder
However, we cannot take it lightly. Investors should avoid blindly chasing the rise. For investors who have not yet jumped on the bandwagon, it is recommended to consider buying during a pullback. Because the market will still face many uncertainties this week, especially the following three major events, which will directly affect the trend of the currency circle.
Three major events that will affect the currency circle this week
(1) Federal Reserve officials gave intensive speeches
More than seven Fed officials will speak this week, and they may provide more clues about rate cuts. The speech attitudes of these officials will directly affect market conditions, and investors need to pay close attention.
(2) CPI data release
At 8pm this Wednesday, the United States will release CPI data. This report is crucial for the Fed's interest rate expectations and the direction of the US dollar. CPI and core CPI are expected to increase by 0.3% month-on-month. If monthly core CPI rises faster than expected, it could push the U.S. dollar stronger, triggering a sharp decline in BTC. On the contrary, if the data is below 0.2% or lower, it may rekindle market expectations for a rate cut in June, which will help BTC remain strong or even break new highs.
(3) The minutes of the Federal Reserve’s monetary policy meeting are released.
At 2 a.m. on Thursday, the Federal Reserve will release the minutes of its March monetary policy meeting. The minutes may provide more information on rate cuts. Current market assessments believe that the possibility of an interest rate cut in June has dropped to around 52%, while in July it has dropped to below 100%. If the minutes conclude that inflation has decreased, then this will be good news for BTC. However, the specific content of the policy minutes will still depend on the actual situation of CPI data.
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