August core PCE came in below expectations, which is supportive for rate cuts; the probability of a rate hike in October fell to 37%. But whether there will be a rate hike next month still depends on the October 2 jobs report (nonfarm payrolls) and the October 14 CPI.
Bitcoin is also seeing a positive catalyst today, but the price action is too “showy”—it surged up and then got sold off again, forming a long upper-wick probe. In this market, it looks a bit like there may be “baiting for momentum and then killing the longs.” Don’t chase it higher and end up trapped. $BTC
Bitcoin is also seeing a positive catalyst today, but the price action is too “showy”—it surged up and then got sold off again, forming a long upper-wick probe. In this market, it looks a bit like there may be “baiting for momentum and then killing the longs.” Don’t chase it higher and end up trapped. $BTC
