Bitcoin Investment Essentials, Market Outlook 🌍 (3/4-3/10)
This week is a big macro week, with U.S. unemployment data and some major central bank interest rate resolutions of note, and the main crypto-related event is the SEC's pending resolution of the Fidelity ethereum spot ETF application, which is highly unlikely to pass and the market now agrees is not likely.
Spot buyers in the mainstream cryptocurrency market remain very strong at the moment and are very hopeful of record highs this week, while derivatives data started to become progressively more active last week and market leverage levels are gradually rising. Strong spot bulls have driven up market sentiment, with higher expectations for an accelerated upward move.
3/5 Tuesday *
🌊U.S. SEC to make resolution on Fidelity Ether Spot ETF application
3/6 Wednesday *
💼 US ADP Employment for February
💼 Bank of Canada interest rate decision
3/7 Thursday **
💼 ECB main refinancing rate
💼 US initial jobless claims for the week
🗒 Fed releases brown book on economic conditions
3/8 Friday ***
💼 U.S. unemployment rate for February
💼 U.S. non-farm payrolls, quarterly adjusted, for February
📌 BTC is now in a spot bull market gradually driving a derivatives bull market, with BTC major term options IV back above 70%, now back to the higher levels seen before the FTX crash and well above last year's average. Buying short- and medium-term options is still a relatively high profit and loss option, calls can be chosen at the end of the month, and puts are more suitable for the short-term of the week.
Spot buyers in the mainstream cryptocurrency market remain very strong at the moment and are very hopeful of record highs this week, while derivatives data started to become progressively more active last week and market leverage levels are gradually rising. Strong spot bulls have driven up market sentiment, with higher expectations for an accelerated upward move.
3/5 Tuesday *
🌊U.S. SEC to make resolution on Fidelity Ether Spot ETF application
3/6 Wednesday *
💼 US ADP Employment for February
💼 Bank of Canada interest rate decision
3/7 Thursday **
💼 ECB main refinancing rate
💼 US initial jobless claims for the week
🗒 Fed releases brown book on economic conditions
3/8 Friday ***
💼 U.S. unemployment rate for February
💼 U.S. non-farm payrolls, quarterly adjusted, for February
📌 BTC is now in a spot bull market gradually driving a derivatives bull market, with BTC major term options IV back above 70%, now back to the higher levels seen before the FTX crash and well above last year's average. Buying short- and medium-term options is still a relatively high profit and loss option, calls can be chosen at the end of the month, and puts are more suitable for the short-term of the week.