The Fed will release the minutes from its September meeting this week. Are they bullish or bearish?
Put simply, they’re a kind of “post-meeting review,” recording just how heated the officials’ arguments were. The market has already fully digested September’s rate hike. What really matters is whether the divisions have widened.
If the minutes show that more officials favored a rate hike and were more concerned about inflation, that would be hawkish—putting even more pressure on Bitcoin. If most favored waiting a bit longer, that would be dovish, and with the bad news already priced in, the market might breathe a sigh of relief.
But what the market is really pricing in is the likelihood of a rate hike in October. After the surprisingly weak jobs report, that probability has already fallen from 70% to around 18%.
Bitcoin has been grinding back and forth between 85,000 and 87,000. The 87,400 level above is a wall of resistance—it’s failed to break through three times. The 85,000 level below is a short-term floor, while 83,900 to 84,200 is the truly substantial support zone.$BTC $SOL #FedMeetingMinutes
Put simply, they’re a kind of “post-meeting review,” recording just how heated the officials’ arguments were. The market has already fully digested September’s rate hike. What really matters is whether the divisions have widened.
If the minutes show that more officials favored a rate hike and were more concerned about inflation, that would be hawkish—putting even more pressure on Bitcoin. If most favored waiting a bit longer, that would be dovish, and with the bad news already priced in, the market might breathe a sigh of relief.
But what the market is really pricing in is the likelihood of a rate hike in October. After the surprisingly weak jobs report, that probability has already fallen from 70% to around 18%.
Bitcoin has been grinding back and forth between 85,000 and 87,000. The 87,400 level above is a wall of resistance—it’s failed to break through three times. The 85,000 level below is a short-term floor, while 83,900 to 84,200 is the truly substantial support zone.$BTC $SOL #FedMeetingMinutes