🚨 EUROPE ON ALERT: KEY MACRO IN 24H 🇪🇺📉
Today is a day of high volatility in the markets. The Eurozone has just released its Unemployment Rate data, and the figures are worse than expected. This data fuels the narrative of a weakened European economy and increases pressure on the European Central Bank (ECB) for a possible more dovish turn in its monetary policy.
A weak Europe translates to a lower EUR/USD, strengthening the Dollar (DXY). A strong DXY historically puts a brake on the Bitcoin rally, generating selling pressure on Altcoins.
If the ECB or Lagarde hint at rate cuts or a pause in tightening, liquidity could seek refuge in risk assets like BTC, reversing the trend. But for now, risk aversion prevails.
