Quincy Diepeveen
Quincy Diepeveen 3 minutes reading from Bitcoin

Bitcoin, Credit Suisse, Deutsche Bank, and More: Market Update

THE MACRO WEEKLY OUTLOOK

It's Monday again, time for the outlook of weekly events that are important for you to know!

Today focus on BoE, Credit Suisse, Deutsche Bank, the data points and the Crypto Charts.

1/9

BTC ETH

In periods of macro economic downturns, the longer it lasts more and more instabilities will emerge. We saw this in Crypto with 3AC and Celcius, where the large and risky investments became visible as the hype and bullish market sentiment flowed away. Now we see this in TradFi.

Great-Britains pension fund insolvency lead to an extreme decrease in the GBP and the BoE announcing "unlimited and immediate" purchase of long-dated bonds.

CB's are stepping in to save the economy at the expense of inflation and LT currency devaluation

TradingView ChartTradingView Chart

The situation in GB is best explained via this image.

The BoE is now in the same situation as BoJ and the PBoC.

Europe seems to be the next victim.

cc: @AndreasSteno

Different story, same problem. 2 banks about to fail, both rated as too big to fail. A combined asset value of nearly 2 trillion and thus 3x the size of Lehman Brothers.

Both stocks are -90% down from the ATH, Credit Default Swaps are going vertical.

TradingView ChartTradingView Chart

These kinds of problems arise in an economic downturn of such proportions. There is much more going on behind the scenes, but we will largely discuss that in the upcoming macro economy bootcamp for Eight Global members!

Quincy Diepeveen on TwitterQuincy Diepeveen on Twitter

Moving on to this week. Here's the agenda and items I'm paying attention to.

Potential market movers: - Lagarde Speech - Unemployment Rate

Important Data: - ISM Manufacturing PMI - ISM Services PMI - Non-Farm Employment Change

The Unemployment Rate in particular is giving a lot of uncertainty this week as it is considered the factor on how strong and stable an economy is. In fact, real unemployment is not expected until the start/peak of a recession. 4.4% is the number priced in for now.

With BTC slowely moving towards the support and the liquidity below the range, meanwhile having the DXY at 4hr support, the beginning of the week looks slightly bearish for Crypto.

TradingView ChartTradingView Chart

Thanks for reading!

Should you find this valuable, I would appreciate it if you share it among your followers!

Another thread you might find interesting,

Quincy Diepeveen on TwitterQuincy Diepeveen on Twitter
This post is based on this twitter thread.

Comments

Please login to comment.
Quincy Diepeveen Quincy Diepeveen
read at 3 minutes

0 0 0
CoinCodeCap Trading CoinCodeCap Trading
read at 27 minutes

0 0 0