$BTC #BTC่ตฐๅฟๅๆ ๐บ๐ธ The Fed Raises Rates for the First Time Since 2023
The Fed unanimously approved a 25-basis-point hike, bringing its benchmark range to 3.75%โ4.00%. Kevin Warsh, Trumpโs choice to lead the central bank, chaired the decision despite the presidentโs repeated calls for lower rates. Warsh cited stubborn inflation as the reason for tightening policy. ๐ฆ U.S. stocks fell following the decision and Warshโs comments, with the Fed signaling that further increases could follow. ๐
Accuracy note: Powellโs term as chair expired; he was not fired. I couldnโt independently verify the claimed $490 billion market loss in 25 minutes. $ETH
๐ฐ BTC Near $77K, but Iโm Not Calling a Reversal Yet
Bitcoin is trading around $76.5K. NVIDIA CEO Jensen Huangโs optimistic AI comments add to the headlines, though that alone doesnโt establish what drove the rebound. ๐
My read: the Fedโs 25-basis-point hike may have been largely priced in. But absorbing one increase and being ready for further tightening are two different things.
The CLARITY Act hasnโt advanced, but regulatory work hasnโt stopped. The SEC and CFTC are proceeding with targeted measures under their existing powers, rather than replacing the legislation outright.
Meanwhile, BlackRock transferred $131.7M in ETH and $153.8M in BTC to Coinbase Prime. Worth watching, but a transfer to an exchange is not proof of a sale.
For now, weโre watching how the market follows through. One bounce isnโt enough to settle the bigger picture. ๐ $ETH #ETH๐ฅ๐ฅ๐ฅ๐ฅ๐ฅ๐ฅ $BTC #btc
$ETH $BTC BTC > $76k right now. The pump is being driven by NVIDIAโs CEO and his bullish statements.
Itโs still too early to draw conclusions about the market, but judging by the reaction to the Fed, it seems as though the rate hike was already priced inโClarity got a head start, but now the SEC and CFTC will take over some of those functions.
So weโre not rushing to conclusionsโweโre watching the situation unfold.
Meanwhile, BlackRock quietly sent $131.7 million worth of ETH and $153.8 million worth of BTC to Coinbase for sale.
His ZEC short positionโwhich he opened back when it was still trading at over $400 and has since had to top up with marginโis now showing a loss of $26 million.
And now heโs withdrawn another $85 million worth of ETH from Binance to prop up his ZEC short.
Either this is a hedge, or the trade really didnโt go as planned. $ZEC