🚨 MARKET STALLS, BTC STILL STANDS FIRM AROUND $83K
Overnight, the market continued to tussle: gold edged slightly higher, US stocks closed in the red, while BTC remained around the $83K area.
The main pressure still comes from US Treasury yields repeatedly breaking to new highs, overpowering the positive signals from weaker oil prices as tensions around the oil shipping route through Hormuz show signs of easing.
That said, the downward momentum has been somewhat curbed after comments from New York Fed Chair Williams, who took a neutral stance—saying the Fed doesn’t need to rush rate hikes and may wait for more data.
After this remark, the market’s odds of pricing in a Fed rate hike in October dropped sharply from 71% → 49%.
At 7:30 PM tonight, the US will release August PCE, the inflation gauge the Fed pays special attention to, along with Q2 GDP final data.
👉 These will be key figures for the market to reassess expectations for monetary policy in the period ahead.
Personal view:
I think the current focus is still on the combination of Treasury yields, inflation, and expectations for Fed rates.
If PCE comes in higher than expected, pressure on BTC and risk assets could return when the market grows more worried that the Fed will keep restrictive policy for longer.
Conversely, cooling inflation data could help ease some of the yield-related pressure and give BTC better conditions to stabilize.
So, I will prioritize watching BTC’s real reaction after the data rather than chasing FOMO before the release.
👇 HOT COINS TRADING HERE 👇
$QNT
$ZRO
$PUMP
Overnight, the market continued to tussle: gold edged slightly higher, US stocks closed in the red, while BTC remained around the $83K area.
The main pressure still comes from US Treasury yields repeatedly breaking to new highs, overpowering the positive signals from weaker oil prices as tensions around the oil shipping route through Hormuz show signs of easing.
That said, the downward momentum has been somewhat curbed after comments from New York Fed Chair Williams, who took a neutral stance—saying the Fed doesn’t need to rush rate hikes and may wait for more data.
After this remark, the market’s odds of pricing in a Fed rate hike in October dropped sharply from 71% → 49%.
At 7:30 PM tonight, the US will release August PCE, the inflation gauge the Fed pays special attention to, along with Q2 GDP final data.
👉 These will be key figures for the market to reassess expectations for monetary policy in the period ahead.
Personal view:
I think the current focus is still on the combination of Treasury yields, inflation, and expectations for Fed rates.
If PCE comes in higher than expected, pressure on BTC and risk assets could return when the market grows more worried that the Fed will keep restrictive policy for longer.
Conversely, cooling inflation data could help ease some of the yield-related pressure and give BTC better conditions to stabilize.
So, I will prioritize watching BTC’s real reaction after the data rather than chasing FOMO before the release.
👇 HOT COINS TRADING HERE 👇
$QNT
$ZRO
$PUMP
