It's been a while since I analyzed the major market indices. So, let's analyze the changes in the US stock market, gold, and crypto markets, seeking to understand what may have driven these changes. Come find out now!
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[ENGLISH VERSION]
What's the Economic Outlook Like?
Recently, Fed Chairman Jerome Powell signaled a possible interest rate cut as early as next September if there is no data indicating the impossibility of implementing this plan. This caused stock markets around the world to rise slightly, because investments always consider future expectations.
The reason is that if there's an interest rate cut, the return on investments in US government bonds would lose its attractiveness, which would force investors to look to other markets, such as emerging market stock markets and cryptocurrencies.
Crypto Scenario - Spotlight on Ethereum!
This past week, while Bitcoin hit a new high, reaching above $122,000, the spotlight was on Ethereum, which for a long period traded sideways and well below its all-time highs. After a long period, Ethereum once again reached close to $5,000, prompting many companies to consider the network once again. One example is Ronin, which is migrating to the Ethereum blockchain. According to CEO Jihoz, the goal is to become a leader in the Ethereum gaming industry, like a Nintendo for Ethereum. We'll cover this transition in more detail in a future article.
Data released by Cointelegraph shows that most Ethereum holders are 2x profitable, which could lead to some short-term volatility as they could end up realizing some of these gains. This is thanks to the token's significant rise in recent days.
Another reminder that while the overall outlook may seem positive, things can change very quickly is the Fear & Greed Index. According to Cointelegraph, it dropped from 60 to 47, indicating that people are becoming a bit more cautious.
