The Fed just became the main reason crypto is falling. ⚠️
CryptoCompass reports the October consumer price index rose 0.4 percent against a 0.3 percent forecast, and CME FedWatch now prices an 88.5 percent chance of a quarter point Fed hike in December. 📊 The 10 year Treasury yield closed at 5.15 percent on November 13, up 27 basis points in four sessions. My reading is that hot inflation plus a near certain hike is the macro driver behind this whole flush, and it will not fade until the December meeting gives traders a clear answer.
Does a December hike send Bitcoin to 57,742, or is it already priced in? 🤔
Follow for more trades.
#Crypto #Bitcoin #FuturesTrading #TradingSignals #FederalReserve
CryptoCompass reports the October consumer price index rose 0.4 percent against a 0.3 percent forecast, and CME FedWatch now prices an 88.5 percent chance of a quarter point Fed hike in December. 📊 The 10 year Treasury yield closed at 5.15 percent on November 13, up 27 basis points in four sessions. My reading is that hot inflation plus a near certain hike is the macro driver behind this whole flush, and it will not fade until the December meeting gives traders a clear answer.
Does a December hike send Bitcoin to 57,742, or is it already priced in? 🤔
Follow for more trades.
#Crypto #Bitcoin #FuturesTrading #TradingSignals #FederalReserve
