Bitcoin investment essential, sneak peek at this week's major events, market trend outlook (3/4-3/10)

CN
1 year ago

This week is a macro big week, and the US unemployment rate data and some major central bank interest rate decisions are worth noting. The main cryptocurrency-related event is that the SEC will make a decision on Fidelity's Ethereum spot ETF application, but the possibility of approval is extremely low, and the market now unanimously believes it is unlikely.

Currently, the mainstream spot market buyers are still very strong, and there is a great chance of reaching new highs this week. At the same time, derivative data has gradually become active since last week, and the market leverage level is gradually increasing. The strong spot bull market has driven market sentiment and there is a significant expectation of accelerated upward movement.

3/5 Tuesday *

SEC will make a decision on Fidelity's Ethereum spot ETF application

3/6 Wednesday *

US February ADP employment figures

Bank of Canada interest rate decision

3/7 Thursday **

European Central Bank main refinancing rate

US initial jobless claims

Federal Reserve releases Beige Book

3/8 Friday ***

US February unemployment rate

US February seasonally adjusted non-farm payrolls

BTC is currently in a spot bull market, gradually driving the derivative bull market. The BTC main term option IV has returned to over 70%, already back to the high level before the FTX crash, far exceeding last year's average level. Buying medium-term options still remains a high-risk high-reward choice. For bullish views, end of the month options are suitable, while bearish views are more suitable for short-term options of the week.

In the cryptocurrency interest rate market, the market has recently become active again, but the green leaf interest rate market is relatively sluggish. It is recommended to hold onto previously higher interest rate orders in the near term.

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