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Big day for bitcoin ETFs: Game changer or not?
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A massive week for Crypto and Bitcoin

$Bitcoin (BTC.CC)$ Next week is going to be filled with many events. Not solely for Crypto, but also on the landscape for the macro economy.
It will most likely put a big move on the markets for Gold, $DXY, the Yields and the indices.
What are the big events? 👇
For the U.S. dollar and Yields:
- Consumer Confidence & Job Openings on Tuesday 4.00PM European Time.
- ADP Non-Farm Employment Change & Prelim GDP on Wednesday 2.15PM & 2.30PM European Time.
- Core PCE (key for FOMC) and Unemployment claims on Thursday 3.30PM European Time.
- Unemployment Rate & PMI on Friday 2.30PM and 4.00PM European Time.
These events are going to have a big impact on the Dollar, through which this will flow into Gold and the Indices and, most likely, into #Bitcoin.
Scenario: Unemployment lower, PCE higher, Confidence higher and PMI higher. That will be a push for the $DXY and continuation of the expection of 'higher for longer' on the interest rate policy.
Remember; Currently we're having a case where markets are already extremely positive on further hikes on the interest rates. This is priced in, so any positive surprise on the downside will have an impact on the markets as a whole.
Scenario 2: Unemployment higher, PCE lower, Confidence lower, PMI lower. That's the trigger that we'll be seeing risk-on assets rally and $DXY / Yields sell-off substantially. This will push Gold and push #Bitcoin.
What's inside the Crypto markets?
- Grayscale vs. SEC news. The question whether $GBTC can become an ETF is, most likely, going to be answered during this week as the deadlines are quickly approaching.
- Spot ETF first deadlines for Blackrock and more ETF propositions. On September 1st, the deadlines are approaching.
Expectations are that we'll be seeing a delay on the approval of the ETF and don't get any news on Grayscale, but what if we get positive news and Grayscale wins?
Big week coming up!
Disclaimer: Community is offered by Moomoo Technologies Inc. and is for educational purposes only. Read more
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