After two days of brutal carnage, U.S. stocks finally rebounded, with the VIX panic index falling 28% and investors starting to buy on dips. Cryptocurrencies have also bounced back, with Bitcoin standing at 56K and Ethereum hovering around 2,450.
Trichet: Yen adjustment is overdue, no emergency interest rate cut required
Former European Central Bank (ECB) President Jean-Claude Trichet mentioned in an interview with CNBC yesterday that an adjustment in the yen-dollar exchange rate is long overdue and may be healthy for the market, but not yet for the broader market. Affects times of panic.
Trichet added that we have seen a series of positive factors in the United States, Europe and the global economy, and these positive factors still exist. I think there is no reason to panic about the United States. Regarding market rumors about the Federal Reserve’s emergency interest rate cut, he also pointed out:
The Fed may "vacillate" between 25 and 50 basis points, but current data does not support an emergency rate cut.
Recently, many officials from the Federal Reserve have stepped forward to reassure the market and emphasized that "the economy is not in recession."
(The Dow Jones collapsed another thousand points, and Fed officials shouted: The economy is not in recession)
BTC rebounds to 56K
After many days of decline, Bitcoin finally slowly rebounded to 56K. The upper pressure was first observed at 58K, which is also the neckline position where the head began to form in early March.
ETH hovers around $2,450
ETH has recently been affected by rumors of dumping by Jump Trading, and its trend has been relatively weak, but buying orders for the Ethereum spot ETF have also begun to appear. Grayscale ETHE outflows narrowed again yesterday, and the subsequent impact on Ethereum spot ETFs should slowly shrink.
(Despite the drop in currency prices, Ethereum spot ETF saw a net inflow of US$48.8 million)
The market is volatile, so be sure to do a good job in capital allocation and risk control
However, BitMEX founder Arthur Hayes still reminds everyone:
Now we wait for the carcasses of the over-leveraged fools of traditional finance to surface before the second wave begins. If policy relief is to come, markets need to provide more pain before Friday. Enjoy the respite now, the war will continue.
Lian News also reminds everyone that the market has been volatile recently, so be sure to do a good job in capital allocation and risk control!
This article VIX falls back, bargain hunting appears, Bitcoin reaches 56K first appeared on Chain News ABMedia.
