cryptocurrency market volatility

ING analysts: The non-farm payroll data released tonight may lean towards weakness, which could exacerbate volatility in the cryptocurrency market

ChainCatcher news, according to CoinDesk, as the market awaits the U.S. non-farm payroll report on Friday, analysts at ING (International Netherlands Group) warn that the data may lean towards weakness, which could exacerbate volatility in financial markets, including cryptocurrencies. Economists surveyed by The Wall Street Journal expect that the data, to be released at 20:30 Beijing time, will show that the U.S. added 185,000 jobs in July, down from 206,000 in June; the unemployment rate remains at 4.1%, unchanged from June, while the annual growth rate of hourly wages may slow to 3.7%. ING analysts explained in a report to clients on Friday, "Evidence from the employment components of the ISM and NFIB surveys suggests that the risks are tilted towards a decline in employment," which explains their bearish view on the dollar.A weak report would undoubtedly strengthen expectations for interest rate cuts by the Federal Reserve this year, diminishing the dollar's appeal. Although Federal Reserve Chairman Jerome Powell ruled out the possibility of significant rate cuts on Wednesday, traders are already anticipating that the Fed will begin cutting rates in September and increase easing measures. ING stated that once the safe-haven demand brought about by ongoing stock market turbulence and geopolitical tensions diminishes, macroeconomic forces may drive the dollar lower.

Greeks.live: The volatility of the cryptocurrency market has recently decreased rapidly, and the IV has dropped quickly

ChainCatcher message, Greeks.live macro researcher Adam posted on the X platform stating that there are few macro events this week that do not affect the macro market. In the crypto space, the main focus is on the approval of the ETH ETF, but the likelihood of it being directly listed is low, with expected volatility being small. Recently, the volatility in the crypto market has rapidly decreased, with IV declining quickly, and the funding and block trading data for ETFs are still worth paying attention to.Crypto market outlook: The meme craze in the US stock market has faded, while Bitcoin ETFs continue to see inflows. ETH is leading the entire cryptocurrency market, ending May with gains driven by ETH, while April was the month with the deepest correction in nearly a year. Market volatility expectations are low, with IVs for major terms retreating.In the crypto interest rate market, Bitfinex spot whales have started to consistently bottom-fish, and the green leaf interest rate market often encounters orders with annualized rates of 20%.Key events this week:5/28 Tuesday *The US stock trading settlement cycle changes from T+2 to T+1The London Stock Exchange accepts listing applications for Bitcoin and Ethereum ETNs5/29 Wednesday *The US SEC will announce its decision on the listing of spot Bitcoin ETF options5/30 Thursday *The Federal Reserve will release the Beige Book on economic conditionsInitial jobless claims in the US for the week5/31 Friday *US Core PCE Price Index for AprilOKX HK withdraws VASP license application, supporting only Hong Kong users for withdrawals after May 31
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