4E: Market uncertainty increases, risk assets are under pressure, and risk aversion rises

In recent days, the Federal Reserve has significantly lowered its expectations for full-year interest rate cuts or even stopped cutting interest rates, and the uncertainty of the macro environment has increased, and risk assets are generally under pressure. On Thursday, the U.S. stock market was closed for one day to mourn the late former President Carter. The crypto market continued to decline, and the news that the U.S. Department of Justice was approved to sell the $6.5 billion of dark web Silk Road bitcoins seized intensified market fears. Bitcoin once plunged to $91,200 this morning, hitting a new low since December 5 last year. It is now slowly rebounding to above $93,000, and the decline in the past 24 hours has narrowed to 1.3%. After Bitcoin briefly returned to $100,000 on Tuesday, it has fallen for three consecutive days this week and is retesting the low point of the range. The market's previous psychological dependence on the "January bull market" has obviously weakened, and risk aversion has risen. Bitcoin futures open interest data shows that speculative momentum is declining, and traders choose to close their positions and wait and see due to market uncertainty. In terms of foreign exchange bulk, Federal Reserve officials lowered expectations for interest rate cuts, the U.S. dollar index rose slightly to achieve three consecutive gains, and non-U.S. currencies generally fell. Cold weather drives up winter fuel demand, with U.S. and Brent crude up about 1% on Thursday. Spot gold rose more than 0.3%, rising for two consecutive days to hit its highest level since mid-December. Non-farm payrolls data will be released on Friday, and the market will re-weigh the Fed's position, and financial markets may face greater volatility. eeee.com is a financial trading platform that supports cryptocurrencies, stock indexes, bulk gold, foreign exchange and other assets. It recently launched a USDT stablecoin wealth management product with an annualized yield of 5.5%, providing investors with potential hedging options. 4E reminds you to pay attention to market volatility risks and allocate assets reasonably.