FOMC minutes have crushed the market; the next test is October 14 CPI
The minutes were somewhat hawkish: most officials believe inflation hasn’t been brought down fully, and it wouldn’t be surprising if another increase happens by year-end. $BTC was pushed down from around 87,000 to 82,370—down 1.3% in a single day; $ETH is even uglier.
Don’t rush to call it a death sentence—there are differences within officials’ ranks: the hawks haven’t formed a unified message, and the market hasn’t really fallen apart. Look to two major upcoming tests: the October 14 CPI and the late-month FOMC. As long as inflation cools, a rebound could come at any time.
Don’t go hard before it actually lands—keep positions light; what you’re really waiting on is patience. #BTC #ETH #FOMC
The minutes were somewhat hawkish: most officials believe inflation hasn’t been brought down fully, and it wouldn’t be surprising if another increase happens by year-end. $BTC was pushed down from around 87,000 to 82,370—down 1.3% in a single day; $ETH is even uglier.
Don’t rush to call it a death sentence—there are differences within officials’ ranks: the hawks haven’t formed a unified message, and the market hasn’t really fallen apart. Look to two major upcoming tests: the October 14 CPI and the late-month FOMC. As long as inflation cools, a rebound could come at any time.
Don’t go hard before it actually lands—keep positions light; what you’re really waiting on is patience. #BTC #ETH #FOMC