The RBA in Australia pushed the cash rate from 4.35% up to 4.60%—but the expectation was only 4.60%? Oh, if the expectation is 4.60%, then it’s fine. The real issue is that this rate hike is even more aggressive than the last one; the world’s central banks are basically left with Australia still trying to hold on.
$BTC is now at 83163.8, down only 0.32% in 24 hours—practically unmoved. In the past, macro-tightening news like this would have been enough to smash the market. Now, the market can’t even be bothered to react. Either liquidity has really dried up and nobody cares about macro anymore, or everyone’s just numb.
Australia’s rate hike doesn’t transmit to $BTC in a direct way. It first affects the U.S. Dollar Index, then risk assets, and only afterward does it filter into the crypto space. The chain is too long—by the time the effect arrives, the “cabbage” is already cold.
But there is one thing worth noting: Australia is one of the few developed economies still raising rates in this cycle, which suggests that the inflation monster hasn’t been fully killed yet. $BTC is stuck here—neither going up nor down—more like it’s waiting for a bigger catalyst. Don’t worry; what’s coming will come.
#Bitcoin
$BTC is now at 83163.8, down only 0.32% in 24 hours—practically unmoved. In the past, macro-tightening news like this would have been enough to smash the market. Now, the market can’t even be bothered to react. Either liquidity has really dried up and nobody cares about macro anymore, or everyone’s just numb.
Australia’s rate hike doesn’t transmit to $BTC in a direct way. It first affects the U.S. Dollar Index, then risk assets, and only afterward does it filter into the crypto space. The chain is too long—by the time the effect arrives, the “cabbage” is already cold.
But there is one thing worth noting: Australia is one of the few developed economies still raising rates in this cycle, which suggests that the inflation monster hasn’t been fully killed yet. $BTC is stuck here—neither going up nor down—more like it’s waiting for a bigger catalyst. Don’t worry; what’s coming will come.
#Bitcoin