A correction has started on the market, especially noticeable in altcoins. ETH and BTC haven’t fallen too much yet. It’s highly likely that the correction will continue until the end of the evening.
The US stock market is closed tomorrow for Good Friday. There will be profit-taking and position reduction ahead of the holidays.
On the crypto market, there may only be a clear positive response to the US labor market report tomorrow, if it turns out to be a failure.
Yesterday’s reports showed some price drops according to the ISM in both industrial and service sectors, but overall there is a significant slowdown in the US economy. Many players have begun to realize the high probability of a recession in the US without any sharp easing from the Federal Reserve, which does not appear to be expected anytime soon based on the rhetoric of Fed members. But it’s still too early to draw conclusions before the Friday report.
News
A speech by Fed member Bullard at 5 pm – all recent speeches have been hawkish, the old man knows how to scare the market.
Base Scenario
A decrease until the end of the evening, and then probably flat until the labor market report at 3:30 pm tomorrow. There may be a small rebound at night, but I’m not counting on it too much.
