CRYPTO IS PUMPING DESPITE EVERYTHING
The CLARITY Act failed to advance, the Federal Reserve hiked rates by 25 basis points, and yet crypto is heading into the weekend with buyers stepping back in.
Bitcoin has held around the $77K area, while the broader market is recovering from the sharp sell off earlier in the week. The Fed also signaled that further tightening could still be ahead.
At the same time, roughly $350M in short positions have reportedly been liquidated, adding forced buying pressure to the move.
This is a good reminder that markets don’t always follow the obvious macro narrative.
Bad headlines, higher rates, failed legislation, and crypto is still pushing higher.
$XRP $HYPE
The CLARITY Act failed to advance, the Federal Reserve hiked rates by 25 basis points, and yet crypto is heading into the weekend with buyers stepping back in.
Bitcoin has held around the $77K area, while the broader market is recovering from the sharp sell off earlier in the week. The Fed also signaled that further tightening could still be ahead.
At the same time, roughly $350M in short positions have reportedly been liquidated, adding forced buying pressure to the move.
This is a good reminder that markets don’t always follow the obvious macro narrative.
Bad headlines, higher rates, failed legislation, and crypto is still pushing higher.
$XRP $HYPE
