🚀 Bitcoin Experiences Short-Term Correction Amid Market Uncertainty
#Bitcoin #MarketCorrection #BullMarket #Overbought #GreedFearIndex #Bearish #ISMManufacturing #Recession #FederalReserve #InterestRates #Stimulus #EconomicData #BTC
According to BlockBeats, Bitcoin experienced a decline on September 30, falling from above $65,000 to a minimum of around $63,200. A report from 10x Research attributes this drop to a typical bull market correction following an overbought situation.
Markus Thielen, founder of 10x Research, noted that last week's report indicated Bitcoin was overbought in the short term, as reflected by the rising greed and fear index. The current short-term reversal signal has turned bearish, suggesting a potential correction in the coming days. Thielen highlighted that ISM manufacturing new orders data show forward-looking indicators have fallen to near recession levels. This makes the upcoming data release highly uncertain; a reading below 48.0 could cause Bitcoin to fall further, while higher numbers might push Bitcoin up.
Despite the short-term bearish outlook, Thielen expressed optimism about the fourth quarter. This optimism is based on expectations that the Federal Reserve will cut interest rates by 50 basis points again and China's recently announced large-scale stimulus measures. The market may gain insights into the Fed's plans later today, as Fed Chairman Powell is scheduled to speak on economic issues at the National Association for Business Economics' annual meeting in Tennessee (1 a.m. tomorrow).
BlockBeats notes that the US September ISM Manufacturing PMI and August JOLTs job vacancies data will be released at 22:00 UTC+8 tomorrow.#Bitcoin #MarketCorrection #BullMarket #Overbought #GreedFearIndex #Bearish #ISMManufacturing #Recession #FederalReserve #InterestRates #Stimulus #EconomicData #BTC
🚀 Key Economic Data And Market Outlook For The Week
#KeyEconomicData #MarketOutlook #NonFarmPayroll #UnemploymentRate #FederalReserve #Election #Volatility #ADPEmployment #GDP #PCEPriceIndex #JoblessClaims #ISMManufacturing #AppleEarnings #Cryptocurrency #Bitcoin #CryptoMarket #InterestRates #Bitfinex
According to BlockBeats, Adam, a researcher at Greeks.live, highlighted on social media that this week is significant for macroeconomic events. The focus will be on Friday's non-farm payroll data and unemployment rate, which are the last major economic indicators before the upcoming election. Notably, Federal Reserve officials have minimal speaking engagements scheduled for this week. Although market attention towards the election is lower than expected, the election still carries substantial uncertainty, with the implied volatility (IV) of election cycle options remaining robust.
Key events for the week include:
On Wednesday, October 30:
- U.S. October ADP Employment Change (20:15 UTC+8)
- U.S. Q3 GDP Annualized Growth Rate Preliminary (20:30 UTC+8)
On Thursday, October 31:
- Bank of Japan Interest Rate Decision and Outlook Report
- U.S. September Core PCE Price Index (20:30 UTC+8)
- U.S. Weekly Initial Jobless Claims (20:30 UTC+8)
On Friday, November 1:
- U.S. October Unemployment Rate (20:30 UTC+8)
- U.S. October Non-Farm Payrolls (20:30 UTC+8)
- U.S. October ISM Manufacturing PMI (22:00 UTC+8)
- Apple Inc. Earnings Report
In the cryptocurrency market, the performance has been lackluster this week. Bitcoin's attempt to reach new highs failed, and other cryptocurrencies experienced significant declines. The U.S. election appears to have little impact on the crypto market at this point. Currently, Bitcoin's short to medium-term IV is relatively low, generally below 40%, but it rises to 60% during the election week, marking the election as the only notable trading opportunity in the near term.
Regarding the crypto interest rate market, Bitfinex's interest rate market has been relatively stable recently, with occasional high-interest orders reaching 20%. It is advisable to actively engage in suitable interest rate orders, especially during market movements.#KeyEconomicData #MarketOutlook #NonFarmPayroll #UnemploymentRate #FederalReserve #Election #Volatility #ADPEmployment #GDP #PCEPriceIndex #JoblessClaims #ISMManufacturing #AppleEarnings #Cryptocurrency #Bitcoin #CryptoMarket #InterestRates #Bitfinex
🚀 U.S. February ISM Manufacturing PMI Falls Short Of Expectations
#US #ISMManufacturing #PMI #February #Economy #Manufacturing
According to BlockBeats, the U.S. ISM Manufacturing PMI for February was reported at 50.3, falling below the anticipated 50.5. The previous month's figure stood at 50.9.#US #ISMManufacturing #PMI #February #Economy #Manufacturing
🚀 Upcoming Key U.S. Economic Events for Early July
#USEconomicEvents #ChicagoPMI #ManufacturingPMI #ISMManufacturing #JOLTs #ConstructionSpending #JobCuts #ADPEmployment #JoblessClaims #UnemploymentRate #NonFarmPayrolls #TradeBalance #ServicesPMI #ISMNonManufacturing #FactoryOrders
According to BlockBeats, several significant macroeconomic events are scheduled in the United States for the upcoming week.
On Monday at 21:45 UTC+8, the Chicago PMI for June will be released.
Tuesday will feature multiple reports, starting with the final June S&P Global Manufacturing PMI at 21:45 UTC+8, followed by the June ISM Manufacturing PMI, May JOLTs job openings, and May construction spending rate at 22:00 UTC+8.
Wednesday's reports include the June Challenger job cuts at 19:30 UTC+8 and the June ADP employment figures at 20:15 UTC+8.
Thursday will see a series of releases, including initial jobless claims for the week ending June 21, the June unemployment rate, seasonally adjusted non-farm payrolls for June, and the May trade balance at 20:30 UTC+8. Later, the final June S&P Global Services PMI will be announced at 21:45 UTC+8, followed by the June ISM Non-Manufacturing PMI and May factory orders rate at 22:00 UTC+8.#USEconomicEvents #ChicagoPMI #ManufacturingPMI #ISMManufacturing #JOLTs #ConstructionSpending #JobCuts #ADPEmployment #JoblessClaims #UnemploymentRate #NonFarmPayrolls #TradeBalance #ServicesPMI #ISMNonManufacturing #FactoryOrders
🚀 U.S. Treasury Yields Steady as Markets Await Key Economic Data
#USTreasuryYields #ISMServicesPMI #EconomicData #USTreasuries #MarketExpectations #QuarterlyRefinancing #BondYields #EmploymentData #ISMManufacturing
U.S. Treasury yields remained relatively unchanged during the Asian trading session as investors anticipate the upcoming quarterly refinancing announcement and the ISM Services PMI data. According to Jin10, analysts surveyed by The Wall Street Journal expect the ISM Services PMI for January to decrease from 54.4 to 53.5. Michael Brown from Pepperstone highlighted that this data will be closely watched, not only due to the significant outperformance of the ISM Manufacturing data earlier in the week but also because the employment sub-index will be a focal point in the absence of the January employment report on Friday. Tradeweb data indicates that the yield on the 10-year U.S. Treasury note rose by 0.3 basis points to 4.274%, while the 30-year Treasury yield remained stable at 4.906%.#USTreasuryYields #ISMServicesPMI #EconomicData #USTreasuries #MarketExpectations #QuarterlyRefinancing #BondYields #EmploymentData #ISMManufacturing
🚀 GEOPOLITICS | Global Markets Brace for Uncertainty Amid U.S.-Iran Tensions
#geopolitics #globalmarkets #USIranTensions #macroeconomics #USPMI #ISMManufacturing #ADPemployment #FederalReserve #jobcuts #unemploymentrate #nonfarmpayrolls #retailsales #NasdaqComposite #SP500 #AItechnology #techstocks
Next week, global markets are expected to navigate through heightened uncertainty and risk aversion due to the evolving geopolitical tensions between the United States and Iran. According to BlockBeats, aside from geopolitical developments, several key macroeconomic events are scheduled. On Monday at 22:45 UTC+8, the final reading of the U.S. February S&P Global Manufacturing PMI will be released, followed by the U.S. February ISM Manufacturing PMI at 23:00 UTC+8. On Wednesday at 21:15 UTC+8, the U.S. February ADP employment figures will be announced. Thursday will see the release of the Federal Reserve's Beige Book at 03:00 UTC+8, the U.S. February Challenger job cuts at 20:30 UTC+8, and the initial jobless claims for the week ending February 28, along with the U.S. January import price index at 21:30 UTC+8. On Friday at 21:30 UTC+8, the U.S. February unemployment rate, seasonally adjusted non-farm payrolls, and the U.S. January retail sales monthly rate will be reported.
In the U.S. stock market, recent data indicates that the Nasdaq Composite Index has failed to reach new highs for four consecutive months. Both the S&P 500 Index and the Nasdaq Index have experienced their worst monthly performance since March of last year. This trend reflects growing investor skepticism about the ability of AI technology to translate into tangible profits, as Wall Street navigates a turbulent period led by tech stocks.#geopolitics #globalmarkets #USIranTensions #macroeconomics #USPMI #ISMManufacturing #ADPemployment #FederalReserve #jobcuts #unemploymentrate #nonfarmpayrolls #retailsales #NasdaqComposite #SP500 #AItechnology #techstocks