Critical Dates for Bitcoin Traders: The Stakes Are High! 🚨
The next few weeks are pivotal for Bitcoin traders. Here's why:
🔻 5-14 : As markets latch onto fleeting narratives, like the Japanese carry trade, don't be misled—keep a close eye on the underlying fundamentals.
🔻 6-14 : Major tech earnings, especially NVIDIA's on August 28, could swing the market. Weak results might pull the Nasdaq, and Bitcoin, even lower.
🔻 7-14 : Slowing US consumer credit and rising delinquencies point to a strained fiat-to-crypto onramp, meaning less liquidity in the market.
🔻 8-14 : Remember the 2020/21 bull run? The economic conditions are starkly different now, with no stimulus checks to fuel the frenzy.
🔻 9-14 : Economic uncertainty is high, with unemployment ticking up—this won't spur hiring, but rather, could exacerbate market turmoil.
🔻 10-14 : Historically, new US presidencies often coincide with recessions, which could further impact Bitcoin's trajectory.
🔻 11-14 : The Federal Reserve’s late response to economic signals has set the stage for potential recession—key ISM and labor market data in September will be crucial.
🔻 12-14 : Mark your calendar for key events like the CPI report (August 14), NVIDIA earnings (August 28), and Fed Chair Powell's speech at Jackson Hole (August 22-24). These will set the tone for Bitcoin’s next move.
🔻 13-14 : With US economic uncertainty and tech earnings unpredictability, Bitcoin might settle within a new range—$50,000 to $60,000, or even as low as $40,000.
🔻 14-14 : The outcome of these critical events will determine the new battleground range for Bitcoin. Stay vigilant, traders—these are the moments that could define your next big move!