The disappointment of investors in the lack of a significant stimulus package from the Asian giant, together with the uncertainty surrounding the evolution of Bitcoin, reflects a complex panorama in the markets that requires attention and strategy.
Zheng Shanjiechairman of China’s National Development and Reform Commission (NDRC), promised more measures to support the property market and stimulate domestic spending. However, the lack of concrete details in his announcement went down badly with investors.
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Bitcoin It is located above US$62,400, but shows a drop of more than 1% in the last 24 hours. For its part, Ethereum does the same above US$2,400, but the red in the last few hours is close to 2%. In the altocoin segment, Solana falls almost 3%, as do Cardano and Avalanche.
The cryptocurrency market closely follows the economic situation in the United States, but was weighed down by the Chinese effect. Following a positive jobs report, all eyes are now on the September Consumer Price Index (CPI), which is expected to show inflation moderating to 2.3%. Core inflation could remain at 3.2%, and the producer price index (PPI) could rise to 2.7%, according to estimates.
Cryptocurrencies: what the market analyzes
The recent press conference, which was expected to be a pivotal moment for the launch of a sweeping stimulus package, turned out to be a disappointment, according to some analysts. “Instead of a big stimulus bazooka, it was more of a toy gun.”
They also highlight that The fall in risk assets reflects that the market “wanted more” and that Beijing’s reluctance to implement a more significant package of measures has raised doubts about the sustainability of the current “rally” in the markets. With global risk appetite already in a fragile situation, the lack of decisive action by of China could be the factor that bursts the bubble.
bitcoin cryptocurrencies
Investor disappointment in the lack of a significant stimulus package from China, coupled with uncertainty surrounding the evolution of Bitcoin, reflects a complex landscape in the markets that requires attention and strategy.
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In addition, investors are attentive to the interventions of several members of the Federal Reserve (Fed), which will publish on Wednesday the minutes of its September meeting, where a cycle of interest rate cuts began with a decrease of 50 basis points . Fed officials, including Chairman Jerome Powell, are considering the possibility of another 50 basis point cuts before the end of the year, with a bias toward two 25 basis point cuts rather than a single 50 basis point cut at upcoming meetings.
Source: Ambito