TODAY UPDATE โ๏ธโ๏ธโ๏ธ
๐ฅ What's actually going on?
The most interesting thing is not only that the prices have increased.
The market took a few big negative shocks last week โ the Fed raised rates and the CLARITY Act failed a procedural vote โ but BTC still managed to bounce back above $80k.
It is a very important change in market behavior.
At the same time, global risk sentiment is better today: Asian shares are rising, American futures are positive, and oil has fallen. However, the bond market remains troubled as US yields are high, so the Fed remains a potential squeeze on risk assets.
โ ๏ธ The most important thing
I would view the current market as a recovery that is trying to grow into a new impulse, and not as a new bull trend that has already been confirmed.
BTC is the key. If BTC holds $80kโ81k, a lot more space opens up for altcoins. If BTC loses that zone again, I would expect SOL, XRP, and ETH to react much stronger percentage wise.
And another catalyst: Core PCE, the Fed's important inflation gauge, arrives on Friday, which can significantly change expectations about the Fed's next moves.
Stay tuned! ๐ค
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