HOT SEPTEMBER CPI JUST SHOOK OIL BONDS AND BTC
The September CPI came in HOT and I am not buying this dip
Headline inflation hit almost 4 percent and core inflation beat forecasts too
Both numbers landed above what Wall Street expected
Gasoline alone jumped 9 percent in one month and caused more than half of the whole rise
Brent crude sits near 103 on Binance perps with the war premium still inside the price
That oil IS the inflation story and the market finally faced it last night
The 10 year Treasury yield pushed past 5 percent to its highest level in 24 years
Bitcoin fell from near 83500 to under 81900 within hours of the print
Gold dropped hard too and ETH lost the 2500 line even before the number came out
My read is simple
When safe bonds pay this much money has zero reason to touch risk
That is why tokenized treasuries like TBT are stealing the spotlight tonight
BTC has to work twice as hard for every new dollar now
I am wrong if the Fed sounds soft at its Oct 28 meeting and yields collapse then BTC takes back 83K fast
I am not chasing green candles into a rate hike week
I wait for the dust to settle
I trade the numbers not the noise
Long or short into the Oct 28 Fed meeting ? Which are you
$BTC $BZ $TBT
#BinanceSquare #WriteToEarn #Crypto #Bitcoin #CPIWatch
The September CPI came in HOT and I am not buying this dip
Headline inflation hit almost 4 percent and core inflation beat forecasts too
Both numbers landed above what Wall Street expected
Gasoline alone jumped 9 percent in one month and caused more than half of the whole rise
Brent crude sits near 103 on Binance perps with the war premium still inside the price
That oil IS the inflation story and the market finally faced it last night
The 10 year Treasury yield pushed past 5 percent to its highest level in 24 years
Bitcoin fell from near 83500 to under 81900 within hours of the print
Gold dropped hard too and ETH lost the 2500 line even before the number came out
My read is simple
When safe bonds pay this much money has zero reason to touch risk
That is why tokenized treasuries like TBT are stealing the spotlight tonight
BTC has to work twice as hard for every new dollar now
I am wrong if the Fed sounds soft at its Oct 28 meeting and yields collapse then BTC takes back 83K fast
I am not chasing green candles into a rate hike week
I wait for the dust to settle
I trade the numbers not the noise
Long or short into the Oct 28 Fed meeting ? Which are you
$BTC $BZ $TBT
#BinanceSquare #WriteToEarn #Crypto #Bitcoin #CPIWatch