The wind in the sails of the Bank of Japan shapes all risky assets, and recent hawkish comments from the BOJ have hit cryptocurrency prices significantly, with last week's mention of the BOJ's over-the-top behavior likely to be a heavy hitter. The BOJ's actions need to be watched consistently this month, with a large percentage of global macro trading based on the Japanese Yen as the underlying asset, a Yen rate hike would shake up the entire financial market.
🌟 Heavyweight events this week:
8/6 Tuesday 💼 Australian Federal Reserve rate decision 💼 Japan's Ministry of Finance, Bank of Japan and the Financial Services Agency hold a meeting to discuss international financial markets 💼 FTX reaches $12.7 billion settlement with US CFTC
8/7 Wednesday 💼 BOJ Deputy Governor Shinichi Uchida delivers a speech
8/8 Thursday 💼 US initial jobless claims for the week 💼 BOJ publishes excerpts of deliberators' comments from July monetary policy meeting 💼Japan's Finance Minister Shunichi Suzuki delivers a speech 💼Australian Federal Reserve President Bullock delivers a speech
Friday, 8/9 💼2024 FOMC Voter and Richmond Fed President Balkin participates in a fireside chat
📌 Crypto Market Outlook: This week needs to be focused on the BOJ and JPY related macro events, last week's huge downtrend has stalled and the market is recovering, so IV's across all major terms have retreated. The cryptocurrency market still maintains the wide oscillator trend that has developed since March, with ETH in particular being more subdued and rates falling sharply. Choosing the right IV at the right time allows you to buy short-term options, especially short-term BTC call options are particularly cost-effective.
📌 crypto interest rate market, Bitfinex interest rate market occasionally good interest rate orders, encounter the right interest rate orders can be actively traded.