Greeks.live: The current Bitcoin correction is likely nearing its end, with a key focus on the US core PCE data coming out this Friday
Macro analyst Adam from Greeks.live posted on the X platform, stating that this week's focus is on Friday's core PCE data. Powell reiterated expectations for a rate cut last week, and if this Friday's data isn't too outrageous, there will be no temporary bearish news for the currency market in terms of Federal Reserve interest rate policy. The overall rebound in the cryptocurrency market over the weekend also confirmed the market's optimistic sentiment, and it is highly likely that BTC has entered its final stages of adjustment from 73,000 to 61,000.
Bitcoin and the entire cryptocurrency market experienced a deep correction over the past week. However, with dovish signals from Fed leading to an overall rebound in cryptocurrencies led by Bitcoin. Currently BTC hovers around 66,500; further downside risk has decreased; Dvol has further probed down to 72.5; as delivery day approaches Dvol may continue to fall further. In terms of crypto interest rates markets Bitfinex spot whales are leveraging up while green leaf interest rate markets have become active again surprises might be expected when using high-interest models.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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