The Bank of England really did raise rates tonight: 3.75% → 4%, its first move in more than three years.
The Monetary Policy Committee voted 8–1 in favor. The sole dissenter, Mann, thought the hike wasn’t big enough and wanted to raise rates straight to 4.25%.
UK CPI was already at 3.5% in September, and the Bank of England itself expects it to surge to around 5% by the middle of next year—still a long way from its 2% target.
I don’t think this is just a UK story—the Fed raised rates to 3.75%–4% in September, and the two major central banks are now both at 4%. The global liquidity-tightening drama isn’t over yet.
First, I’m watching to see whether Bitcoin can hold above $80,000. It’s already risen to $80,141 tonight, up 2.64% in 24 hours. If CPI turns downward and the Bank of England changes course and holds rates on December 17, this thesis is invalidated.
What do you think happens first in this rate-hiking cycle: Bitcoin breaks $85,000, or drops back to $75,000?
$BTC $ETH $SOL
#英央行加息 #Bitcoin
The Monetary Policy Committee voted 8–1 in favor. The sole dissenter, Mann, thought the hike wasn’t big enough and wanted to raise rates straight to 4.25%.
UK CPI was already at 3.5% in September, and the Bank of England itself expects it to surge to around 5% by the middle of next year—still a long way from its 2% target.
I don’t think this is just a UK story—the Fed raised rates to 3.75%–4% in September, and the two major central banks are now both at 4%. The global liquidity-tightening drama isn’t over yet.
First, I’m watching to see whether Bitcoin can hold above $80,000. It’s already risen to $80,141 tonight, up 2.64% in 24 hours. If CPI turns downward and the Bank of England changes course and holds rates on December 17, this thesis is invalidated.
What do you think happens first in this rate-hiking cycle: Bitcoin breaks $85,000, or drops back to $75,000?
$BTC $ETH $SOL
#英央行加息 #Bitcoin
