False joy in the cryptocurrency market

While the situation on the traditional currency market is rather calm, in the case of cryptocurrencies, which exist only in the digital world, the situation is completely different. The whole world is waiting for the moment of approval of the first one ETF for the Bitcoin spot market and just yesterday it seemed that the US Securities and Exchange Commission had finally approved the first fund. However, the information turned out to be false, which again caused concern among investors.

SEC social media account hack

Yesterday evening, information appeared on the X platform from the SEC account page that the first Bitcoin spot fund had been approved. However, it turned out that the account on the social networking site i The SEC has not approved such a fund at all. Bitcoin rose to almost 48 on the first news. dollars, and later dropped below 45 thousand. dollars. However, the cryptocurrency is holding strong, which may mean that the decision may still be positive and it can be expected that it will be announced today, which could suggest the start of trading tomorrow.

On the other hand, the head of the SEC recently pointed out that kryptowaluty they are a dangerous carrier of value, very volatile with high involvement of people outlawed. Some people read these words as cryptocurrency warning, in which it will soon be possible to invest through a regular stock exchange, although on the other hand this may only speak to the continuation of current policy. Either way, the SEC will have to provide different reasons for rejecting the fund than it did just a few months ago.

Press conference of the Monetary Policy Council

Today's macroeconomic calendar is basically empty, although from the Polish perspective an important event awaits us. Today at 15:00 p.m. there will be a conference after the Monetary Policy Council's decision on the interest rates. As expected The Monetary Policy Council kept interest rates unchanged, therefore we did not observe greater volatility on Polish assets. During the previous NBP press conference, prof. Glapiński presented his statement quite quickly and quickly moved on to questions, so it can be expected that something similar will happen during today's conference. As the head of the NBP has repeatedly indicated, the next more important decisions may come with the publication of the March inflation report or in the event of major changes in economic data.

At 10:00 we were paying PLN 4,3421 for the euro, PLN 3,9686 for the dollar, PLN 4,6545 for the franc, and PLN 5,0459 for the pound.

Source: Michał Stajniak CFA, XTB