The rise in cryptocurrencies is now at the mercy of Warsh. Bitcoin enters the Jackson Hole week near $80,000, after a 28% gain in August. $ONG
The GREED index for cryptocurrencies rose to 74/100, its highest level in nearly 11 months.
The rally began when Treasury bond buybacks pressured yields and the dollar lower. More than $4 billion in short positions in cryptocurrencies were liquidated, accelerating the move.
News that the Treasury could use its nearly $1 trillion cash reserve boosted liquidity optimism. $BTW
PCE inflation and GDP will be released on Wednesday, marking the first major test of the rally. The main event takes place on Friday, when Fed Chair Kevin Warsh will deliver his first speech at Jackson Hole.
A softer message could spark exuberance, while a more aggressive surprise could turn greed into fear. Billions of people now depend on Warsh. $TAC
#news #Fed #bullish #BTCReaches$80000 #GoldHits$4700EndingSixMonthCorrection
The GREED index for cryptocurrencies rose to 74/100, its highest level in nearly 11 months.
The rally began when Treasury bond buybacks pressured yields and the dollar lower. More than $4 billion in short positions in cryptocurrencies were liquidated, accelerating the move.
News that the Treasury could use its nearly $1 trillion cash reserve boosted liquidity optimism. $BTW
PCE inflation and GDP will be released on Wednesday, marking the first major test of the rally. The main event takes place on Friday, when Fed Chair Kevin Warsh will deliver his first speech at Jackson Hole.
A softer message could spark exuberance, while a more aggressive surprise could turn greed into fear. Billions of people now depend on Warsh. $TAC
#news #Fed #bullish #BTCReaches$80000 #GoldHits$4700EndingSixMonthCorrection
