All eyes are on Kevin Warsh’s speech in Jackson Hole 👀
About two hours from now, Warsh will deliver his speech, and the market is waiting for any signal regarding inflation, interest rates, and the path of monetary policy.
Honestly, I don’t expect the speech to have surprises, but I also think it will be closer to the negative for crypto.
The reason is that we know that a number of Federal Reserve members still view inflation as a problem, and the latest data has given reason for that concern.
If Warsh focuses on persistent inflation and the need for tighter monetary policy, we could see fresh pressure on $BTC and on cryptocurrencies.
The move we saw yesterday was interesting. Bitcoin took liquidity above the top, then fell back down, as if part of the market started to unwind positions before the event.
They know something 👀
Let’s see what Warsh says.
About two hours from now, Warsh will deliver his speech, and the market is waiting for any signal regarding inflation, interest rates, and the path of monetary policy.
Honestly, I don’t expect the speech to have surprises, but I also think it will be closer to the negative for crypto.
The reason is that we know that a number of Federal Reserve members still view inflation as a problem, and the latest data has given reason for that concern.
If Warsh focuses on persistent inflation and the need for tighter monetary policy, we could see fresh pressure on $BTC and on cryptocurrencies.
The move we saw yesterday was interesting. Bitcoin took liquidity above the top, then fell back down, as if part of the market started to unwind positions before the event.
They know something 👀
Let’s see what Warsh says.
