Hello Crypto Friends! 👋
Welcome to our weekly crypto roundup where we delve into the upcoming events in the crypto universe. I’ll be sharing my insights on each topic, so you can stay ahead in this dynamic space. Let’s kick things off with a look at the stock market’s influence on crypto trends!
📊 Stock Market Snapshot: November’s Legacy
Historically, November and December have been strong months for the S&P 500, with average gains of 1.7% and 1.5% since 1950. December, in particular, has seen positive returns 74% of the time since 1928. This bodes well for the crypto market too, as a strong performance in the stock market often spills over into bullish sentiment in crypto. So, fingers crossed for a ripple effect that boosts our digital assets!
🔍 Crypto’s December Dance: Watching Bitcoin & Ethereum
Bitcoin’s historical pattern shows an uptrend in December, except for a few years like 2018 and 2019. This year, after a bullish November for stocks and a decent performance for crypto, the focus is on the potential approval of a Bitcoin & Ethereum ETF. Such a move could be a game-changer, attracting new investors and injecting fresh capital into the crypto market. Definitely something to watch closely!
🗣️ ECB President Lagarde’s Update: Economic Insight
This Monday, we’re tuning in to ECB President Lagarde’s speech before the Economic Committee. She’s expected to shed light on the euro area’s economic situation, including the inflation surge and the ECB’s response. Her opinions on quantitative tightening could have a significant impact on the crypto market, as they influence investor risk appetite and global financial trends.
📉 US Consumer Confidence Report: Tuesday’s Big Reveal
The Consumer Confidence Survey on Tuesday is a critical indicator of economic sentiment. A higher score could signal increased consumer spending and economic growth, potentially leading to a boost in crypto investment. Conversely, a lower score may indicate a cautious spending approach, impacting economic and crypto market growth. So, this is a report we’re keeping a close eye on!