After a relative quite week on data and announcements front this week is the opposite a storm of big data points is on the way and those will surely effect the already fragile Crypto market.
What data is coming out?
Fed speakers today (Monday)
Housing data + consumer confidence (Tuesday)
LOADS of macro data on Wednesday from job openings, GDP, PMI’s and Powell speaking
Thursday, we have a load of jobs data, manufacturing data and CORE PCE
Friday we have unemployment data plus average hourly earning
All of the above will affect the traditional and crypto markets in any direction.
BTC??
My issue here is we didn’t get a rise over the last few days and now we’re heading into a really complex macro news week. And if that wasn't enough block-fi lender platform filled for bankruptcy its not something that took us by surprise , everyone was waiting to happen since block-fi had close ties with FTX after the agreement they had on June that provided block-fi with a 400 million dollars of credit line, once FTX fall it was inevitable for block-fi to follow. The money runned out. While this was expected no one can truly be ready for something this big in a bear market that hit the crypto so hard , the already low liquidity and the fear reaching all time high levels makes the crypto prices to easily fall hard. The good thing is that the bottom is close maybe its will be reached by one more big platform going bankrupt or something like that but it will and a long period of nothing will follow.
One last thing that we should be watching is the 16th OPEX.
https://cdn.cboe.com/resources/options/Cboe2022OPTIONSCalendar.pdf
Posted Using LeoFinance Beta
we all have been advised earlier to put our crypto in a cold wallet
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