Robust seasonality ahead

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02 Sep 2024

Robust seasonality ahead

The market reign anemic with negative funding rates and dwindling trading volumes. Several important economic indicators are due to be released this week. Will this stop the market from slumbering?

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Bitcoin and ETH give up recent gains

Both Bitcoin (-6%) and ETH (-6%) lost some ground this week following their recent rallies. Bearish sentiment reigns as trading volumes dried up. A long weekend in the U.S. and Canada capped off a slow news week, but we expect a shift in gears as the U.S. releases highly anticipated employment data following the Fed’s pivot. Friday, September 5, offers the most important economic data, with U.S. Nonfarm Payrolls (exp: 164k) and U.S. unemployment rate (exp: 4.2%). With the backdrop of heightened recession fears, we expect significant spikes in volatility as this data is released.

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Robust seasonality ahead

Bitcoin and ETH give up recent gains

CME traders take their foot off the pedal

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