In the past week, BTC has shown a short-term bottoming rebound. On October 11, BTC fell below the $60,000 support level and bottomed out at $58,946, then quickly rebounded to above $60,000, fluctuating between $60,000 and $63,000. On October 14, the price of BTC rose rapidly, until 6 AM on October 15, when BTC briefly broke through $66,000. As of the time of this article, BTC is still at $65,000 (the above data is from Binance spot, October 15 at 15:00).
In the coming week, not only will there be intensive speeches from Federal Reserve officials, but with the release of macro data, the full launch of the U.S. stock earnings season, and further shocks in local political and geopolitical relations, BTC may continue to fluctuate.
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The US stock market remains bullish, with the Dow Jones and SP hitting new highs
On October 14, driven by technology stocks and chip stocks, U.S. stock indexes closed higher, with the Dow Jones and SP hitting new highs. Against the backdrop of a general rise in chip stocks, Nvidia hit a new all-time high.
Wells Fargo and JPMorgan Chases earnings hit new highs last Friday, indicating a recovery in bank profits. The markets optimistic expectations for a soft landing of the US economy have increased, driving technology stocks and chip stocks higher. In the near future, the US stock market will usher in a new round of earnings season. Citigroup, Bank of America, Goldman Sachs, Johnson Johnson, TSMC, and Netflix are all expected to announce earnings this week. The market may further react to it.
Crypto ETF market expands, Monochrome will launch Australias first Ethereum spot ETF on Cboe
The increase in liquidity of BTC spot ETFs has attracted more institutional investors to enter the market. According to HOD L1 5 Capital, last week, the US Bitcoin spot ETF increased its holdings by a total of 4,635 BTC, exceeding the BTC production (3,150) in the same period. At the same time, market reports said that Monochrome Asset Management is preparing to launch Australias first Ethereum spot ETF on Cboe.
The presidential election is too close, and market uncertainty is increasing
US stocks have hit new highs, but the US election is still one of the major events that the market is closely watching recently. Currently, the competition among candidates has entered a stalemate. Polls show that Harriss approval rating is higher than Trumps, while Polymarket shows that Trumps approval rating is 10% higher than Harris. Combined with the sudden rise in Treasury yields, the uncertainty of the Federal Reserves monetary easing policy and global geopolitical tensions, the uncertainty of the global market has increased significantly.
The world is accelerating the regulation of crypto assets, and the market is optimistic about the popularization of crypto assets in the long term
US presidential candidate Harris has promised to promote a clearer regulatory framework for cryptocurrencies. The market believes that once the US regulatory framework is clear, institutional funds will flood into the market, pushing the prices of Bitcoin and other crypto assets further up.
At the same time, other countries are also actively promoting the regulation of crypto assets. Planet News reported that the Financial Services Commission of South Korea plans to set up a Virtual Asset Committee this month, and may hold its first meeting as early as this month. The agency will operate under the jurisdiction of the Financial Services Commission (FSC) of South Korea, and the ruling on the approval of the Bitcoin ETF is the focus of its agenda. At the same time, the South African Revenue Service (SARS) announced that it will include crypto assets in its compliance program. The tax department is seeking information about crypto users from the Financial Sector Conduct Authority (FSCA) and crypto asset service providers.
Current layout
Although the US stock market has hit new highs, with the increase in global market uncertainty, the market risk aversion has increased significantly, and BTCs safe-haven attributes have gained some market inflows. Many market analysts believe that in the context of increasing global political and economic uncertainty, the cryptocurrency market will continue to be supported by capital inflows, especially BTCs long-term prospects are optimistic, and BTC may be expected to test new price highs in the coming months.
It is recommended to pay close attention to large transactions and market capital flows while maintaining caution, reasonably allocate asset layout, and lock in part of the gains in advance. For investors who are optimistic about BTC in the long term, they can use structured products or other financial management methods to increase the value of the currency standard. Sticking to it, Shark Fin, and Trend Winning are all relatively stable choices.
For experienced users who want to quickly accumulate BTC assets, Accumulator discount opening can also be considered. Under the premise that the current market price is high, the Accumulator product allows investors to buy Bitcoin at a discount price below the market, thereby reducing the overall cost in the process of gradual accumulation. It is suitable for investors in the current market who want to accumulate Bitcoin gradually through regular purchases.
Of course, investors should also be reminded that investment involves risks. It is recommended that they invest reasonably according to their own risk preferences and risk tolerance, and obtain investment returns while controlling risks.
As the worlds leading one-stop crypto financial service platform, Matrixport provides users with diversified asset management products, including dual-currency investment, Snowball, Shark Fin, Trend Win, Seagull and other structured products; quantitative strategy, passive strategy and other strategic investments. The above products support multi-currency investment and a wide range of investment cycles.
면책 조항: 위의 내용은 홍콩 특별행정구, 미국, 싱가포르 및 그러한 제안이나 권유가 법으로 금지될 수 있는 다른 국가나 지역의 거주자에게 투자 조언, 매도 제안 또는 매수 제안 권유를 구성하지 않습니다. 디지털 자산 거래는 매우 위험하고 변동이 심할 수 있습니다. 투자 결정은 개인 상황을 신중하게 고려하고 금융 전문가와 상의한 후에 내려야 합니다. Matrixport는 이 콘텐츠에 제공된 정보를 기반으로 한 투자 결정에 대해 책임을 지지 않습니다.
This article is sourced from the internet: Matrixport Market Observation: U.S. stocks and BTC both rose, how will the market trend before the election?
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