Tonight’s data is a bit of a mixed bag: U.S. Q3 GDP grew at an annualized 3.4%, beating expectations, with consumer spending and AI investment both holding strong. But September PCE inflation was 3.6% year over year, with core at 3.1%—still a long way from the 2% target. Put simply, the more resilient the economy is, the harder it is to put the rate-hike whip away. BTC is still hovering around $80K tonight, at about $80.2K—unable to push much higher or fall much lower.
My own view is pretty clear: a strong economy doesn’t necessarily mean better times. Until inflation gives in, I’m not getting optimistic on the market.
Which side are you on: A) A strong economy gives us confidence, and $80K will hold; B) 3.6% inflation is the real story, and if a December rate hike comes, we’ll take another hit?
$BTC
My own view is pretty clear: a strong economy doesn’t necessarily mean better times. Until inflation gives in, I’m not getting optimistic on the market.
Which side are you on: A) A strong economy gives us confidence, and $80K will hold; B) 3.6% inflation is the real story, and if a December rate hike comes, we’ll take another hit?
$BTC
