#CryptoTradingGuide

Futures and options expiration in the US and worsening global macroeconomic conditions

According to Bloomberg, the U.S. stock market faces a "triple witching hour," an event that occurs every quarter when derivatives contracts tied to stocks, index options and futures are scheduled to expire. A total of $5.5 trillion is expected to expire on June 21, and as the S&P 500 nears its all-time high, investors fear that weaker macroeconomic data signals a greater risk of recession.

US existing home sales fell for the third straight month in May, while manufacturing and services PMI readings for France and Germany came in below expectations. Similarly, in the United Kingdom, the PMI showed that private sector companies reported slower than expected growth. Finally, inflation in Japan rose to 2.8% in May, higher than April's figure of 2.5%.