Summary
- Important events during this week could affect Bitcoin price.
- BTC is now trading near $59,000.
Greeks.live is addressing the most important event of the current week that might affect Bitcoin’s price.
In a post on X, the team noted that after a week of adjustment, the market has come out of the blow of Japan’s interest rate hike. According to them, the recent dovish comments from the Bank of Japan have also given the market confidence.
Despite the constant stream of negative market news, Greeks.live notes that the sentiment is more optimistic this week.
The current week’s macro focus returned back to the US economic data, the probability of a rate cut in September continues to rise and both these factors are giving the market increased confidence. If this week’s data gives the market another rate cut hope, the rally will most likely continue.
Top 9 Events of the Week
- Elon Musk and Donald Trump interview took place, with 1 billion viewers (August 12).
- US PPI data for July is set to be released today (August 13).
- The US CPI data for July will be released (August 14).
- New Zealand Fed rate decision will be revealed (August 14).
- The US initial jobless claims for the week will be released (August 15).
- US monthly retail sales for July data will be announced (August 15).
- 2025 FOMC Voter and St. Louis Fed President Mussallem will speak on the US economy and monetary policy (August 15).
- 2014 FOMC Voter and Richmond Fed President Balkin will participate in a fireside chat (August 16).
- US Democrats will launch “Crypto for Harris” campaign against Trump (August 16).
Crypto Market Outlook
Greeks.live also notes that market confidence has been mostly restored following a week of panic release. IVs for all major terms have fallen back compared to last week, and IVs are now at relatively high levels, with downward pressure still evident.
The crypto market still maintains the wide oscillator trend that formed since March, in which ETH is more sluggish and the exchange rate fell sharply. Also, timing and choosing the right IV can be a good option for buying short-term call options and constructing a counter-calendar spread.
Also, Bitfinex interest rate market occasionally has good interest rate orders, and encountering the right interest rate orders can be actively traded, especially when there is a market worthy of special attention, according to Greeks.live.
Bitcoin is currently trading close to $59,000, down by 1% in the past 24 hours.
