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✨⭐️ Crypto Trading Quant ⭐️✨ 6 minutes reading from Bitcoin

Today’s Trading Outlook: Market Update: Market Funds Rate And FOMC Statement

1. Today's Trading Outlook:

✅ ADP Non-Farm Employment Change ✅ Federal Funds Rate ✅ FOMC Statement ✅ DXY chart ✅ BTC chart ✅ Crypto Money Flow ✅ Conclusion ✅ Cryptocurrency News

Read this thread to learn more 👀 👇

Stocks Forex DayTrading Money Markets Altcoins

2. ADP Non-Farm Employment Change

The ADP National Employment Report is a measure of the monthly change in non-farm, private employment, based on the payroll data of approximately 400,000 U.S. business clients and released 2 days before the Non-Farm Payroll results.

3. How to trade the ADP Non-Farm Employment Change:

Actual: 👀 Forecast: 178K Last month: 208K

📉 Above forecast good for DXY / US dollar and bad for cryptocurrency such as Bitcoin and Altcoins

📈 Below forecast bad for DXY / US dollar and good for cryptocurrency

4. Federal Funds Rate

Traders are pricing in nearly 90% odds of a 75bps interest rate hike! Many retail traders will focus on this number - but this is NOT the most important thing to look out for! Instead focus on the FOMC Statement.

5. FOMC Statement

While the decision for a 75bps hike itself seems relatively straightforward, the accompanying statement and press conference will be closely monitored for any hints that the central bank is thinking of slowing the pace of rate hikes in the coming months.

6. FOMC Statement (cont)

Any signs that The FederalReserve will rise rates in December to 50bps will override the 75bps November Federal Funds Rate and send the DXY downwards!

7. DXY chart

As predicted 5 hours ago:

Expecting the DXY to go to the median level around the 111.750 area before the news release.

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8. BTC chart

As predicted 5 hours ago:

Expecting Bitcoin to continue down to it's target zone.

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9. Today's Crypto Money Flow:

Inflow:

Stable to BTC 2.4B Stable to ETH 1.7B Stable to DOGE 1.6B Stable to BUSD 550.5M Stable to SHIB 218.4M Stable to BNB 198.4M

Rest too small to mention.

cryptotrading altcoinseason investingtips binance CoinbaseRelistXRP

10. Today's Crypto Money Flow:

Outflow:

BTC to stable 4.3B ETH to stable 1.7B DOGE to stable 1.6B BUSD to stable 527.4M SHIB to stable 206.0M BNB to stable 193.4M

Rest too small to mention.

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11. Conclusion:

Today is going to be filled with many news events creating lots of volatility!

ADP Non-Farm Employment Change will be released 6 hours before the FOMC news!

In those 6 hours expect traders to price in the markets.

bitcoin EthereumNFT dogecoin ELONMUSK

12. Crypto news

🚀 Web3 game development company Mozart closes 3 million Pre-Seed round

🚀 Bitcoin mining in October was 567 million, an increase of 3% from the previous month

🚀 Valereum gets green light to acquire Gibraltar Stock Exchange

13. Crypto news (cont)

🚀 Galaxy Digital GLXY may lay off at least 20% of its workforce

🚀 South African supermarket giant Pick n Pay accepts bitcoin payments

🚀 Boba Network integrates with BNB Chain

14. Crypto news (cont)

🚀 275 hacking incidents happened in 2022, exceeding 3.5B

🚀 MoneyGram launches cryptocurrency buy and sell feature on mobile app

🚀 Nissan has registered a number of NFT-related trademarks

15. Crypto news (cont)

🚀 Top 50 Dogecoin holders unloaded 110M worth of DOGE over the past week

🚀 Dogecoin Futures Rack Up Nearly 90M in Liquidations

🚀 Apple's absurd new crypto rules show how out of touch it has become

16. Crypto news (cont)

🚀 Hong Kong To Conduct Public Consultation on Retail Crypto Trading EFTs

🚀 Coinbase Files to Support Ripple Against SEC Case

17. Stay classy crypto traders!

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This post is based on this twitter thread.

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