Greeks.live: There is still downward pressure this week, as the Jackson Hole Global Central Banking Conference will open on Thursday
ChainCatcher news, Greeks.live analyst Adam released a preview of the major events that Bitcoin investors should pay attention to this week (August 19 to 25). The most important macro event this week is the Jackson Hole Global Central Bank Annual Symposium starting on Thursday.
The news related to the yen interest rate hike and the dollar interest rate cut is highly anticipated, as the Bank of Japan and the Federal Reserve will deliver important speeches that will influence the direction of the entire capital market. Several important monetary policy meeting minutes will also be released this week. Here are the daily highlights:
On Tuesday (August 20), the Reserve Bank of Australia will release the minutes of the August monetary policy meeting, and Swiss National Bank President Jordan will give a speech.
On Wednesday (August 21), 2024 FOMC voting member and Atlanta Fed President Bostic will speak.
Thursday (August 22) is the busiest day of the week, with the U.S. releasing the initial jobless claims for the week, and the Federal Reserve and the European Central Bank releasing their monetary policy meeting minutes. The Jackson Hole Global Central Bank Annual Symposium will also kick off on the same day.
On Friday (August 23), Bank of Japan Governor Ueda and Finance Minister Suzuki will attend a parliamentary hearing, and Federal Reserve Chairman Powell and Bank of England Governor Bailey will speak at the Jackson Hole symposium.
Adam stated that the cryptocurrency market remains weak, but the risk of a crash has been alleviated, and market confidence has somewhat recovered. The implied volatility for major maturities continues to decline, currently at a moderate level, with downward pressure still present this week. The cryptocurrency market has maintained a wide range of fluctuations since March, with Ethereum still performing poorly. Adam suggests that investors consider buying short-term options at appropriate implied volatility levels to bet on the "sell the news" effect of the central bank symposium.
