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The Kansas City Federal Reserve's annual Jackson Hole Symposium is underway, and Powell will deliver his keynote address Friday morning.
A lot of put options are in-the-money, crypto options exchange Deribit's Lin Chen said.
Don't ready too much into the move, said one observer, calling it a typical position reset.
The latest price moves in crypto markets in context for August 24, 2023.
Both tokens rose 3%, bitcoin and ether added as much as 1.2% and bnb (BNB) rallied 1% after staving off concerns about contagion risks in the BNB Chain ecosystem.
Despite today’s market-wide advance, the outlook for risk assets is pointing to softer prices for the next few weeks, one observer noted.
VIPNoteworthy Bitcoin-themed memecoins- 20:17BTC falls below $97,000, down 0.35% intradayPANews May 3rd news, the market shows that BTC has just fallen below $97,000, currently reported at $96,989.10 per coin, down 0.35% for the day.
- 20:17"Fed's Mouthpiece": Nonfarm Payrolls Reduce the Likelihood of a June Rate CutBlockBeats news, on May 2, "Fed's mouthpiece" Nick Timiraos stated that the April employment report makes the possibility of a rate cut in June less likely (although June is still far away), as there will only be one more employment report before then. For now, this means the Federal Reserve does not need to make any statements about the June meeting next week. (Jin10)
- 20:17Institutions: Non-farm data will keep the Federal Reserve "on the sidelines"BlockBeats reports that on May 2, Gregory Faranello, Head of U.S. Rates Trading and Strategy at AmeriVet Securities, stated that due to the impact of tariffs and tax policies, there will be significant issues in the future job market. As for the Federal Reserve's future policy path, given that employment remains a key driver of economic growth, the Fed is currently "standing by." Previously, Lindsay Rosner, Head of Multi-Sector Fixed Income Investments at Goldman Sachs Asset Management, stated that at this time and place, robust labor market data provides the Federal Reserve with room for patience. (Jin10)