๐ Macro Moves, Crypto Impact โ June 6
๐ฅ The Euro is pulling back after hitting 2-month highs. The ECB cut rates by 25 bps to 2.0% โ expected โ but Lagarde struck a hawkish tone, hinting that this might be the end of the easing cycle. This puts a lid on hopes for more rate cuts in the near term.
๐ For crypto, less monetary easing = reduced fiat liquidity, which could cool some of the momentum in risk assets like BTC and ETH โ at least in the short term.
๐ช๐บ Eurozone Data Ahead:
Retail Sales (April): Still growing, but slightly slower (1.4% vs. 1.5% prior).
Q1 GDP expected to be revised up to 0.4% QoQ โ showing the EU economy isnโt falling off a cliff just yet.
Lagarde speaks again, but donโt expect much new.
๐ Key Risk: US Nonfarm Payrolls
This is todayโs main event for crypto traders.
Forecast: +130K jobs
Unemployment: Might tick up to 4.3%
A weak report would pressure the US Dollar, possibly giving crypto a short-term boost as traders rotate into alternative assets.
๐ TL;DR:
Hawkish ECB = less dovish liquidity = short-term drag for crypto.
Weak US NFP = USD vulnerability = potential tailwind for BTC, ETH, and altcoins.
Watch the charts โ volatility incoming. โก
