Bitcoin’s downward trend line failed to challenge again, falling steadily since last Thursday. This morning at 8:00, it dropped from $69,552 to $68,000, with other altcoins experiencing even more significant declines.
It is worth noting that the two major events of global investment markets, the Consumer Price Index (CPI) and the Federal Reserve interest rate decision, will be announced simultaneously this Wednesday. It can be expected that both the US stock market and the cryptocurrency market will experience intense two-way volatility.
CPI YoY: Previous value 3.4%, Expected 3.4%.
Core CPI YoY: Previous value 3.6%, Expected 3.5%.
Interest rate decision: FedWatch Tool shows a 99% chance of maintaining the benchmark interest rate range of 5.25% to 5.5%.
Andrew Tyler, Head of US Market Information at JPMorgan’s trading department, stated in a report that the S&P 500 is expected to experience two-way volatility of 1.3% to 1.4% before Friday. This expected volatility range is based on the price of at-the-money straddle options expiring that day, reflecting an unusually intense market long-short game. The majority of the volatility is expected to occur after the release of the Consumer Price Index (CPI) data report and the Federal Reserve interest rate decision.
(This article is authorized to be reprinted from GT Radar)
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