📈 BITCOIN HOLDING AT $77,000 AS THE MARKET PRICES IN AN 86% CHANCE OF RATE HIKES
August’s CPI came in higher than expected: the core rose 0.3% month-over-month vs. 0.2% projected. The Fed futures market now assigns an 86.5% probability to a 25 basis-point hike next week.
But Bitcoin didn’t fall. It climbed to $79,837 intraday before pulling back to $77,438. The "golden cross" that formed on the daily chart was invalidated within hours, but the price remains steady above $77,000.
LMAX analyst Joel Kruger explains: "The market had already priced in most of the hawkish risk ahead of the data. If the Fed delivers, the reaction will be muted."
Bitcoin is behaving like a hedge against inflation, not a risk asset. The narrative has shifted.
Are you going to trade the FOMC data or Bitcoin’s behavior against macro logic?
Click here to trade 👉🏻 $BTC
August’s CPI came in higher than expected: the core rose 0.3% month-over-month vs. 0.2% projected. The Fed futures market now assigns an 86.5% probability to a 25 basis-point hike next week.
But Bitcoin didn’t fall. It climbed to $79,837 intraday before pulling back to $77,438. The "golden cross" that formed on the daily chart was invalidated within hours, but the price remains steady above $77,000.
LMAX analyst Joel Kruger explains: "The market had already priced in most of the hawkish risk ahead of the data. If the Fed delivers, the reaction will be muted."
Bitcoin is behaving like a hedge against inflation, not a risk asset. The narrative has shifted.
Are you going to trade the FOMC data or Bitcoin’s behavior against macro logic?
Click here to trade 👉🏻 $BTC