Cryptocurrency Market Outlook for This Week (2/26-3/3)

CN
1 year ago

This week is still a macro small week, with only routine events such as some FOMC voters and major central bank speeches. The main cryptocurrency-related event is the main activity of ETH Denver 2024, and the event-driven momentum is small.

Currently, the mainstream coin market's spot buyers are very strong, and it is worth noting that derivative data has become active this week, and the market leverage level is gradually increasing. The strong spot bull market has driven market sentiment, accelerating the expectation of an upward surge, but it is also necessary to be cautious due to the experience of sharp drops in bull markets.

  • 2/29 Thursday

  • US January Core PCE Price Index

  • US Initial Jobless Claims for the Week

  • Start of ETH Denver 2024 main event

  • 3/1 Friday

  • US February University of Michigan Consumer Sentiment Index

BTC is currently in a spot bull market, gradually driving the derivative bull market. The implied volatility (IV) of major term options is at its highest level in nearly a year. The excited market sentiment can easily drive up prices, and IV still has the potential to hit new highs. Buying short-term calls is still a high-risk-reward choice, and it is also a good choice to spend some premium to buy short-term puts for protection.

In the cryptocurrency interest rate market, the market has recently become active again, and the leverage level continues to rise. Some high-interest orders continue to appear in the interest rate market. If there is a big market movement in the near future, it is worth paying attention to interest rate changes, as there may be good lending opportunities.

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