Ethereum Ropsten Merge
One of Ethereum's most prominent testnets, Ropsten, is ready to begin The Merge of its mainnet (Proof-of-Work) and Beacon Chain (Proof-of-Stake). This is likely to happen on June 8th. Provided this is successful, it provides some Hopium for Ethereum to complete its Merge later this year, currently set for August. However, The Merge has experienced...
ECB Meeting
The European Central Bank is having a monetary policy meeting. For more information on how central bank monetary meetings effect Crypto, click here.
US May CPI Data
The Bureau of Labor Statistics is releasing inflation data for May 2022. This is will have a strong bearing on the actions the Federal Reserve decides to take at its next meeting. If inflation is worse than anticipated or stubbornly high, the FED will be forced to keep aggressively raising rates. More information on inflation,...
FED meeting
The US Federal Reserve is having a monetary policy meeting. Being the largest economy in the world, these meetings are keenly watched and have far reaching consequences. A useful tool to watch is the CME FedWatch Tool, which shows what the market is predicting the rates will adjust to: https://www.cmegroup.com/trading/interest-rates/countdown-to-fomc.html For more information on how...
BoE meeting
The Bank of England is having a monetary policy meeting. The BoE is expected to continue raising rates, with its fifth consecutive rise. However, the UK is currently suffering from soaring inflation and weak economic growth. For more information on how central bank monetary meetings effect Crypto, click here.
SNB meeting
The Swiss National Bank is having a monetary policy meeting. For more information on how central bank monetary meetings effect Crypto, click here.
BoJ meeting
The Bank of Japan is having a monetary policy meeting. For more information on how central bank monetary meetings effect Crypto, click here.
Closed Markets
Markets in America will generally be closed. This includes the New York Stock Exchange and NASDAQ. Stock market holiday closures: Crypto tends to correlate closely with the traditional stock market. So when markets are closed for holidays, Crypto trading activity usually slows down as well. That can lead to reduced liquidity with lower trading volume which can result in increased...
PBOC Meeting
The People’s Bank of China is having a monetary policy meeting. A key macroeconomic factor currently is the Evergrande debt crisis and over-leveraged property developers in China. Although there is generally a ban on Crypto in China, Asian markets in particular have been concerned with the growing debt crisis in China and reacting strongly to...
Quarterly Derivatives Expiry
The last Friday of the quarter is when the quarterly futures and options contracts expire. These generally have a much higher Open Interest than weekly and bi-weekly expiries and therefore can have a more significant impact on markets.
Evergrande Bond Payment
$255.2m in interest payments is owed by Evergrande group. Our full report on the over-indebted property sector can be found here.
ETF decision
A decision is due on the Bitwise Bitcoin ETP trust ETF. It is a physically backed (spot) ETF and as such could dramatically increase demand for Bitcoin, as currently only futures contract based ETFs have been approved. There have been a string of rejections by the SEC for spot Bitcoin ETFs and it is likely...
