Rate hikes really are here
$BTC , but a market-wide plunge that people feared the most hasn’t happened instead.
In the end, the Federal Reserve still raised rates by 25 bps, lifting the target interest-rate range to 3.75%—4.00%.
BTC is now around $76,400.
This price doesn’t look all that dramatic, but when you put it back into the environment of the past week, I actually think it’s important.
Core CPI is still a bit hot, the 10-year U.S. Treasury yield surged above 5%, the CLARITY Act couldn’t be advanced, and ultimately even the rate hike was actually carried out.
BTC is still hovering around 76,000.
More importantly, institutional capital hasn’t completely pulled out because of all these developments. Over the past three weeks, U.S. spot BTC ETFs have accumulated inflows of about $3.8 billion, with the highest single-day inflow reaching $731 million.
So I’ve been not following the market to chase shorts for the past few days.
Negative news isn’t absent, but BTC had already fallen in advance from around $82,000 and absorbed part of the impact.
Now that the rate hike has moved from expectations to reality, whether 76,000 can still hold matters more than the four words “the Fed raised rates.”
$BTC , but a market-wide plunge that people feared the most hasn’t happened instead.
In the end, the Federal Reserve still raised rates by 25 bps, lifting the target interest-rate range to 3.75%—4.00%.
BTC is now around $76,400.
This price doesn’t look all that dramatic, but when you put it back into the environment of the past week, I actually think it’s important.
Core CPI is still a bit hot, the 10-year U.S. Treasury yield surged above 5%, the CLARITY Act couldn’t be advanced, and ultimately even the rate hike was actually carried out.
BTC is still hovering around 76,000.
More importantly, institutional capital hasn’t completely pulled out because of all these developments. Over the past three weeks, U.S. spot BTC ETFs have accumulated inflows of about $3.8 billion, with the highest single-day inflow reaching $731 million.
So I’ve been not following the market to chase shorts for the past few days.
Negative news isn’t absent, but BTC had already fallen in advance from around $82,000 and absorbed part of the impact.
Now that the rate hike has moved from expectations to reality, whether 76,000 can still hold matters more than the four words “the Fed raised rates.”