The working week is over. The US labor market remains too strong, and oil prices have risen by more than 10% over the past month. For this reason, markets are afraid of a second wave of inflation and that the Fed will not cut rates this year.
🔴 The cryptocurrency market has fallen significantly. The capitalization of digital assets fell by 7.7%. High profit-taking has been observed. BTC could not stay above $70,000, and altcoins, following BTC, also fell by an average of 7%. There is a high probability that the correction will continue, there has been no acceleration yet. A halving is expected in about 2 weeks, and some analysts are already warning of a possible drop.
🔴 The stock market is also ending the week in the red. The S&P 500 fell by 1.8% and the Nasdaq by 1.7%. The sharp drop occurred on Thursday, amid geopolitical instability in the Middle East and the factors described in the first paragraph. In general, markets feel overheated. The earnings season starts at the end of next week, so the main “fun” on the stock market is still ahead.
Download the App
