eToro’s Callie Cox noted that bitcoin has led the stock market “in seven of the last 10 Fed days”

The Federal Reserve announced a 25 basis point hike on Wednesday, raising the federal funds rate between 5% and 5.25% for the first time since 2007. 

The 25 bps hike was largely expected, though the hike comes after a slew of bank collapses. In the past couple of months, JPMorgan had to step in to buy First Republic after it was seized by regulators, Silicon Valley Bank was abruptly seized by regulators after comments from the CEO caused a bank run, Signature followed SVB’s suit a few days later and Silvergate — which had a lot of crypto exposure — voluntarily liquidated back in March.

The Fed omitted language that signaled further rate hikes, pointing to a potential pause. 

“The committee will closely monitor incoming information and assess the implications for monetary policy. In determining the extent to which additional policy may be appropriate,” the Fed said in its May release.

In March, Powell said that it was “too early” to fully understand the effect of the banking crisis, and in the May decision, the Fed reiterated that the “banking system is sound and resilient.” 

Powell is expected to take the podium at 2:30 pm ET for a press conference, where he will very likely be questioned about the Fed’s outlook on the banking sector following the rescue of First Republic. 

If the Fed starts to cut rates by the end of 2023, then the market “has already priced it, and it is very likely the Fed will manage a soft landing, and financial markets will continue to grow. In case of some deviation in the plan, the risk of a recession or a longer period of high inflation will be increased, which can lead to the market drop,” Ruslan Lienkha, chief of markets at YouHodler, said in an email to Blockworks. 

In March, Powell also reiterated that he believed that there was a possibility for a soft landing — a term he’s been using since the Fed started on its rate hiking cycle to indicate the possibility of lowering inflation without an economic crisis or recession.

While inflation has shown signs of slowing, it’s still persistently high. The consumer price index’s annual inflation found that prices rose 5% for the 12 months ended in March, which is a slight downtick from the 6% reported in February.

However, the Federal Reserve’s goal is to bring inflation back to a 2% target rate, which is also the fed funds’ target rate. 

Bitcoin “is driven by macro events this year, with a +25bps hike priced in, there should be little reaction there,” said Greg Magadini, director of derivatives at Amberdata, a crypto analytics firm. “Guidance around a pause going forward should be bullish for BTC and could send BTC slightly higher (around 29k-30k) but without a surprise, I don’t expect $30k to be meaningfully surpassed.”

Callie Cox, US investment analyst at eToro, noted that bitcoin (BTC) has outperformed the stock market “in seven of the last 10 Fed days.”

Callie Cox @callieabost

This is a developing story.

source: blockworks

#Fed #forex #fomc #fomcmeeting #news

Disclaimer

The views and opinions expressed by the author, or any people mentioned in this article, are for informational purposes only, and they do not constitute financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.

2023, week 11

[Close] - Trend Status Analysis by PresentTrading

The market is uncertain. USD index is fluctuating around 6.9.

Keep moving. Keep watching.

Gluck. Please do risk control.

--Summary --

Total Closed Trades 34

Winning rate 76.47%

'Use backtesting to evaluate and make objective trading decisions.'

by PresentTrading



USD/ CNY 3D candle w/ backtesting result

#market #USDT #forex

#backtesting #presentTrading

2023, week 10

[Close] - Trend Status Analysis by PresentTrading



USD index is fluctuating around 6.9.

The risk market is uncertain.

Keep moving. Keep watching.

Gluck. Please do risk control.

--Summary --

Total Closed Trades 34

Winning rate 76.47%

'Use backtesting to evaluate and make objective trading decisions.'

by PresentTrading



#market #USDT #forex #backtesting

#presentTrading



USD/ CNY 3D candle w/ backtesting result

You know about #stocks ,#crypto2023 ,#NFT ,#forex .But, I am going to share some more investment and trading Object/Application related to crypto.

You have to be smart in Investment and #trading .

1.CEX crypto:-A centralized crypto exchange (CEX) is a business that provides you with a multitude of services such as a crypto trading platform (buy and sell transactions), account services (account funding and withdrawal), and customer support services.

2.Computing crypto:-Computing is the process of using computer technology to complete a given goal-oriented task.

3.DeFi crypto:-Decentralized finance, uses emerging technology to remove third parties and centralized institutions from financial transactions.

4.Deflationary crypto:-Deflationary crypto assets have a default deflation rate hard-coded into the protocol. This rate determines the percentage decrease in the coin's total supply over time. For example, a crypto token can have an annual deflation rate of 2.5%, meaning that the total supply of the currency is reduced by 2.5% per year.

5.DEX Cryptos :-A DEX (decentralized exchange) is a peer-to-peer marketplace where users can trade cryptocurrencies in a non-custodial manner without the need for an intermediary to facilitate the transfer and custody of funds.

6.Derivatives Cryptos:-Crypto derivatives let investors place bets on the price changes of cryptocurrencies without owning the underlying asset. They provide leverage and the opportunity to profit from bullish and bearish market conditions, much like more conventional financial derivatives like options and futures.

7.EVM Cryptos :-The Ethereum Virtual Machine (EVM) is the computation engine for Ethereum that manages the state of the blockchain and enables smart contract functionality.

8.Filesharing Cryptos:-Decentralized file sharing is a way of storing files across multiple nodes in a network rather than on a single centralized server.

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