Good morning, brothers.
A few more thoughts on yesterday’s Fed and CPI news.
Based on current market forecasts, the odds of rates staying unchanged are still very high—close to 70%.
Looking at yesterday’s detailed data, it’s clear that gasoline was the main driver of the higher CPI. But housing services also came in a little above expectations.
Overall, the report was broadly and moderately hotter than expected, rather than a sign that the market is completely out of control.
Core CPI was still up 0.3% month over month, the same as the previous reading.
That means it’s not enough to completely destroy Bitcoin’s bull-market structure,
but it could significantly prolong the choppy consolidation and shakeout at these higher levels.
Before the uncertainty clears, a lot of big money will turn cautious.
While we wait for the dust to settle, it might be worth keeping a close eye on how the old hands at CTF behave—we may get some clues about the market’s direction from them [doge]
As for China’s A-shares, sorry—I was too young. I know absolutely nothing about them [sweat]
A few more thoughts on yesterday’s Fed and CPI news.
Based on current market forecasts, the odds of rates staying unchanged are still very high—close to 70%.
Looking at yesterday’s detailed data, it’s clear that gasoline was the main driver of the higher CPI. But housing services also came in a little above expectations.
Overall, the report was broadly and moderately hotter than expected, rather than a sign that the market is completely out of control.
Core CPI was still up 0.3% month over month, the same as the previous reading.
That means it’s not enough to completely destroy Bitcoin’s bull-market structure,
but it could significantly prolong the choppy consolidation and shakeout at these higher levels.
Before the uncertainty clears, a lot of big money will turn cautious.
While we wait for the dust to settle, it might be worth keeping a close eye on how the old hands at CTF behave—we may get some clues about the market’s direction from them [doge]
As for China’s A-shares, sorry—I was too young. I know absolutely nothing about them [sweat]
