Early Tuesday, Bitcoin is hovering around $80,100—not so much waiting to see whether rates will be raised (the odds of holding steady are already high), but waiting for the two-day meeting that starts tonight and for what Warsh says at tomorrow’s press conference. ETH is hovering around $2,322, right alongside Bitcoin, with both watching the key levels.
The facts are simple: the FOMC’s two-day meeting opens today, with the decision and press conference scheduled for tomorrow, 10/28. There are also data releases and month-end options later this week, but for now they’re just background—we won’t get into them.
Today’s hexagram is Xian, Lake over Mountain: Dui above Gen. Xian means influence and mutual responsiveness—the lake rests on the mountain, and each affects the other. In plain English: the market is responding to the rate decision; prices are hovering near key levels, waiting to hear what Warsh says. Don’t rush to pick a side.
My take: the main things to watch are whether Bitcoin can hold above $80,000 around tomorrow’s press conference, and whether volatility picks up first and then settles down. On this opening day, it’s better to leave yourself some room than to treat “holding steady” as confirmation that the market is bullish.
What do you think—is the market “hovering around $80,000 and waiting for the remarks,” or can you “pick a side on the opening day”? Share your thoughts in the comments.
Everyone, could you do me a favor? Just cast a vote for me at the bottom of my profile page (once a day). There are perks for everyone who votes. Thanks for your support! Follow me for updates.
$BTC $ETH
Personal opinion, not investment advice
The facts are simple: the FOMC’s two-day meeting opens today, with the decision and press conference scheduled for tomorrow, 10/28. There are also data releases and month-end options later this week, but for now they’re just background—we won’t get into them.
Today’s hexagram is Xian, Lake over Mountain: Dui above Gen. Xian means influence and mutual responsiveness—the lake rests on the mountain, and each affects the other. In plain English: the market is responding to the rate decision; prices are hovering near key levels, waiting to hear what Warsh says. Don’t rush to pick a side.
My take: the main things to watch are whether Bitcoin can hold above $80,000 around tomorrow’s press conference, and whether volatility picks up first and then settles down. On this opening day, it’s better to leave yourself some room than to treat “holding steady” as confirmation that the market is bullish.
What do you think—is the market “hovering around $80,000 and waiting for the remarks,” or can you “pick a side on the opening day”? Share your thoughts in the comments.
Everyone, could you do me a favor? Just cast a vote for me at the bottom of my profile page (once a day). There are perks for everyone who votes. Thanks for your support! Follow me for updates.
$BTC $ETH
Personal opinion, not investment advice
