Insight #32

Against the backdrop of macro concerns and hacking attacks, Bitcoin maintains a bullish sentiment. Learn the details in the new report!

Macroeconomics

1. Falling Stock Markets and Declining Consumer Sentiment

Priority: High

Key Data:

- U.S. Indices: The S&P 500 fell by 1.7%, the Nasdaq by 2.1%, and the Dow Jones dropped by 748 points – the largest decline this year.

- The University of Michigan Consumer Sentiment Index was revised downward to 64.7 (from a preliminary value of 67.8), while one-year inflation expectations rose to 4.3% and the five-year forecast to 3.5%.

Link to Bitcoin:

A sharp decline in the stock market and deteriorating consumer sentiment increase overall economic uncertainty. Investors may seek alternative assets to hedge against the volatility of traditional markets and inflationary risks, which could support demand for Bitcoin.

2. Upcoming Economic Data and Fed Commentary (Week Ahead)

Priority: High

Key Data:

- Next week, a series of key releases is scheduled: speeches by Federal Reserve officials, the publication of data on personal income and spending, the PCE index, durable goods orders, t…