Coinbase analysts David Duong and David Han said that, despite bitcoin's lackluster price action this week, "market sentiment has remained largely unchanged, as evidenced by the stability of perpetual contract funding rates and the number of unpositioned squaring contracts over the past week."
Coinbase analysts pointed out that the macro factors affecting the performance of cryptocurrencies are shifting from monetary policy to the outcome of the US election, and despite the recent rise in CPI and core PPI, market expectations for interest rate cuts remain roughly stable.
They also mentioned that China's fiscal policy briefing on Saturday could indirectly affect the cryptocurrency market, especially during the period when many markets will be closed. Cryptocurrency markets may be used to express proxy views on the size and strength of any fiscal policy announcement.
Analysis: Macro factors affecting cryptocurrency performance are shifting from monetary policy to the U.S. election
2024-10-11 17:08:52
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