Adjustment of cryptocurrency assets and Australian policy interest rates [12/10/2024] [Avo's market conditions & strategy memo]

- Cryptocurrency assets adjusted yesterday, leading to a significant decline.

- Today, the Reserve Bank of Australia kept the policy interest rate at 4.35%.

Compared to center pin currencies like Bitcoin, etc.,
It seems that peripheral cryptocurrencies are experiencing larger declines.

AUDUSD has been on the rise since China's financial policy change yesterday.
It has become volatile.

from traders web FX
RBA Governor: 'Not necessarily need to confirm inflation for two quarters to make policy changes.'
RBA Governor: 'No discussion about interest rate cuts.'
【Key Figure Remarks】RBA Governor: "Intentional changes in the wording of the statement."
【RBA Statement】"Decisions will be made based on the progression of data and risk assessment."
【RBA Statement】"Sustainably returning inflation to target is the top priority."
【RBA Statement】"The underlying inflation rate remains too high."

It is impossible to determine the top, but
Regarding cryptocurrency, it seems that there is still buying power when it drops.

Regarding the Australian Dollar, there are positive factors related to China's economy, but
There is an interest rate factor of "when to cut interest rates", so
I think it is a challenging situation to move strongly in one direction.

I don't particularly hold a position right away, but
Regarding cryptocurrency, if there is a firm bottom after further decline,
I am also considering selling a Put.

*There are cases where assets and stocks that are investment candidates are mentioned.
I do not mention buying and selling timing or risk management.
Please consider it as a reference information only.
The final decision is your responsibility, thank you.