Essential for Bitcoin investment, major events to watch this week (3/3-3/9)
The most noteworthy event this week is the cryptocurrency summit to be held in the United States on March 7, where Trump's every move significantly influences the cryptocurrency market.
This week is a macro week, with market-influencing news almost every day. This Friday, in addition to the crypto summit, there are two significant data points: unemployment rate and non-farm payrolls, which are very much worth paying attention to. Moreover, the U.S. is about to switch to daylight saving time, making it more convenient to monitor the market. On Tuesday, Trump's tariff policy on Canada and Mexico comes into effect, and there are important economic events on several other days, providing rare trading opportunities driven by events.
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Major events this week:
3/3 Monday
💼 U.S. February ISM Manufacturing PMI (23:00)
3/4 Tuesday
💼 Reserve Bank of Australia releases minutes of February monetary policy meeting (8:30)
💼 U.S. imposes 25% tariffs on Canada and Mexico
💼 U.S. President Trump is invited to deliver his first speech in Congress
3/5 Wednesday
💼 U.S. February ADP Employment Change (21:15)
3/6 Thursday
💼 Federal Reserve releases Economic Conditions Beige Book (3:00)
💼 European Central Bank announces interest rate decision (21:15)
💼 U.S. initial jobless claims for the week (21:30)
💼 ECB President Lagarde holds a monetary policy press conference (21:45)
3/7 Friday
💼 U.S. February Unemployment Rate (21:30)
💼 U.S. February seasonally adjusted non-farm payrolls (21:30)
💼 U.S. President Trump hosts the cryptocurrency summit at the White House
📌 Cryptocurrency market outlook:
The cryptocurrency market rebounded sharply over the weekend, as one tweet from Trump reversed the low market sentiment that had persisted for days, with Bitcoin returning to the $94,000 fluctuation zone. The sudden market changes caught participants off guard, shifting sentiment from extremely pessimistic to extremely optimistic.
In terms of options, the volatile market has pushed the implied volatility (IV) across all tenors up, with the current month's at-the-money IV rebounding to 55% and short-term IV soaring to 70%. The extreme market movements and multiple economic events this week are likely to keep IV at a relatively high level, but buying options is still very cost-effective.
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Regarding the cryptocurrency interest rate market, the Bitfinex interest rate market has been relatively stable recently, and suitable interest rate orders can be actively executed, especially when there is market activity worth paying special attention to.