BITPRISMIA
The cryptocurrency market experienced an unprecedented $429 million in futures liquidations within an hour, totaling $905 million over 24 hours, highlighting extreme market volatility and the risks of leveraged trading.
The US dollar is experiencing persistent weakness while the British Pound is rising robustly, driven by differing central bank policies, particularly the Bank of England's hawkish stance on interest rates.
UBS forecasts the EUR/USD exchange rate to reach 1.20, driven by factors such as ECB's hawkish stance, Eurozone economic resilience, and a potential dovish pivot by the Fed, signaling a relative weakening of the US Dollar.
The US Dollar is experiencing a period of consolidation following the Non-Farm Payrolls (NFP) report, with market participants awaiting further economic data and Federal Reserve policy signals to determine future direction.
The EUR/USD pair experienced a crucial Friday rally, offering relief to currency traders after weeks of downward pressure, driven by factors like shifting market sentiment and technical indicators signaling an oversold condition.
The article discusses the significant impact of crypto futures liquidations, highlighting a recent event where $102 million was liquidated in an hour and $751 million over 24 hours, emphasizing the risks of leveraged trading.
Asian currencies face pressure from the US Federal Reserve's high interest rates and China's economic weakness, with the Japanese Yen showing unexpected strength due to potential policy shifts by the Bank of Japan.
Sharesies, a major New Zealand stockbroker, is expanding into cryptocurrency trading, which could significantly boost crypto adoption in the region, leveraging its large user base and simplified investment approach.
Bank of America forecasts a continued uptrend for AUD/USD, driven by a weak US jobs report and a dovish outlook for US monetary policy, while the Australian economy remains robust.
The article discusses the significant liquidation events in crypto perpetual futures trading within a 24-hour period, highlighting the high losses from long positions in Ethereum, Bitcoin, and Solana due to market volatility.