Market Focus Shifts to the Fed and Crypto Market Sentiment Ahead of Elections
Publication Time:2024-09-09 14:11:11
The fervor surrounding the US presidential election is gradually subsiding, and the market's focus is now directed towards the upcoming Federal Reserve meeting on September 18th. Analyst Rocky Fishman points out that the recent market attention has been primarily on the Fed and the potential initiation of a rate-cutting cycle. Despite stock options signaling elevated risk before and after the election, there is relatively limited actual trading volume related to the election. Traders are eagerly awaiting Tuesday's debate between Harris and Trump to refine their bets on the election outcome. In the digital asset sector, John Divine, the OTC trading director at BlockFills, indicates an exceptionally gloomy near-term outlook for Bitcoin, forecasting it to remain bearish until October 25th. However, when looking ahead to November, Divine notices that call option prices surpass put option prices, a development that surprises the market and reflects its current state of panic. Divine asserts that while President Trump enjoys more favor in the crypto market, the distinction between support for the industry is becoming increasingly vague. He argues that the market is no longer purely based on the election's victor but rather exploits the event to advance narratives that resonate with its current bearish perspective.
Market Volatility
Bitcoin
Cryptocurrency Market
Election Impact
Federal Reserve Meeting