🚨 The crypto rally is now under the mercy of Wall Street! 🇺🇸₿
Bitcoin is set to enter the Jackson Hole week near $80,000 after a strong rise of about 28% during August, but the biggest test of the rally hasn’t arrived yet.
The Crypto Fear & Greed index has risen to:
🔥 74/100 — the highest level in about 11 months
And the bullish wave came after a meeting of several factors:
🔹 The liquidation of more than $4 billion in Short positions added fuel to the rally.
🔹 Talk of the possibility that the Treasury could use part of its cash account, which is approaching $1 trillion (TGA), boosted expectations for liquidity.
But now the real tests begin.
📊 Wednesday: PCE inflation data + U.S. GDP may reset expectations for interest rates and liquidity.
🔥 Friday: the biggest event, with the first speech by the Federal President Kevin Warsh at Jackson Hole.
If Warsh’s message is dovish, the rally could get fresh fuel and the Greed state could turn into even greater euphoria.
But if markets are surprised with a hawkish message, yields and the dollar may rise again, and Greed could quickly turn into Fear.
👀 Bitcoin reached $80,000... but now billions of dollars are betting on what Warsh will say on Friday.
Bitcoin is set to enter the Jackson Hole week near $80,000 after a strong rise of about 28% during August, but the biggest test of the rally hasn’t arrived yet.
The Crypto Fear & Greed index has risen to:
🔥 74/100 — the highest level in about 11 months
And the bullish wave came after a meeting of several factors:
🔹 The liquidation of more than $4 billion in Short positions added fuel to the rally.
🔹 Talk of the possibility that the Treasury could use part of its cash account, which is approaching $1 trillion (TGA), boosted expectations for liquidity.
But now the real tests begin.
📊 Wednesday: PCE inflation data + U.S. GDP may reset expectations for interest rates and liquidity.
🔥 Friday: the biggest event, with the first speech by the Federal President Kevin Warsh at Jackson Hole.
If Warsh’s message is dovish, the rally could get fresh fuel and the Greed state could turn into even greater euphoria.
But if markets are surprised with a hawkish message, yields and the dollar may rise again, and Greed could quickly turn into Fear.
👀 Bitcoin reached $80,000... but now billions of dollars are betting on what Warsh will say on Friday.
