Greeks.live: Various resolutions are favorable for the macro market, Bitcoin is expected to hit 110,000 US dollars this week
Adam, a macro analyst at Greeks.live, posted that this Thursday the Federal Reserve, the Bank of England and the Bank of Japan will successively announce their interest rate decisions. The market unanimously believes that the Fed will cut interest rates by 25%, but there is a 20% chance that the Bank of Japan will raise interest rates this week, which is attracting more attention from the market. The recent severe depreciation of yen has put great pressure on the Bank of Japan to raise interest rates. As yen is a major target in foreign exchange arbitrage markets, an increase in interest rates would inevitably bring liquidity pressure to these markets.
In all likelihood, all decisions will benefit macro markets. There's hope for reaching $110k this week; main players in options market are also increasing positions for end-of-year options ranging from $110k to $120k.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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