Interpretation of cryptocurrency market on March 30, 2023
Yesterday Powell mentioned in a private meeting with US lawmakers that he expects to raise interest rates again this year. As we have analyzed this before, it makes little difference whether the interest rate pole is 5% or 5.25%. Whether the rate hike stops in May or June and whether the second half of the year or next year starts with a rate cut. Apart from the difference in timing, there will be no other variables.
The following economic data will have less impact than what has come before. Tonight's unemployment benefits and tomorrow night's PCE data will only require short-term traders to properly hedge against the unusual volatility that may arise around 8:30. Because there is no rate resolution in April, the impact of the data will be even weaker. And the main weakness is the impact of the positive.
The bearishness will not bring about a more significant rate hike. Still, the good (unemployment rising, inflation falling more than expected as good) may make the last rate hike expected to disappear as well as open the rate cut faster, allowing the rise to come earlier.
This judgment on the April market is event-driven by the Shanghai upgrade. Like ETH 2.0 last year, ETH drove a general rise in cottage coins. It also aligns with the rotation market that should occur after BTC leads and the altcoins index is highly depressed. The a specific need to pay attention to the landing of the Shanghai upgrade. If it is delayed, it is okay. What is destined to happen, and there is a possibility of overlaying the halt in interest rate hikes. Under the stimulation of the double good, the pull-up will only be more robust.
The following economic data will have less impact than what has come before. Tonight's unemployment benefits and tomorrow night's PCE data will only require short-term traders to properly hedge against the unusual volatility that may arise around 8:30. Because there is no rate resolution in April, the impact of the data will be even weaker. And the main weakness is the impact of the positive.
The bearishness will not bring about a more significant rate hike. Still, the good (unemployment rising, inflation falling more than expected as good) may make the last rate hike expected to disappear as well as open the rate cut faster, allowing the rise to come earlier.
This judgment on the April market is event-driven by the Shanghai upgrade. Like ETH 2.0 last year, ETH drove a general rise in cottage coins. It also aligns with the rotation market that should occur after BTC leads and the altcoins index is highly depressed. The a specific need to pay attention to the landing of the Shanghai upgrade. If it is delayed, it is okay. What is destined to happen, and there is a possibility of overlaying the halt in interest rate hikes. Under the stimulation of the double good, the pull-up will only be more robust.