FOMC day checklist for the US open (statement 2:00 PM ET, Warsh 2:30):
1. Clarity Act cloture already failed 49-50. That headline is priced. Do not re-trade yesterday's Senate dump as if it is fresh news.
2. A 25 bp hike is almost fully priced. The number in the statement is not the trade. The SEP dots and Warsh's tone in the press conference are.
3. $BTC sits near $75.6K after probing toward ~$75.0K. Session low ~$74,968 is the line that says risk-off still owns the tape. A reclaim of $76,000 into the print means bids are willing to sit through the event.
4. $ETH is softer than $BTC into the meeting. If alts keep lagging into the presser, size smaller, not bigger.
I am watching $BTC into the Fed. Not guessing the hike. Watching how the tape digests Warsh.
Follow for the next US-session read after the press conference.
#ClarityActFacesProceduralVoteSept15 #US10YearTreasuryYieldNears5% #CryptoLiquidations$674MIn24H
1. Clarity Act cloture already failed 49-50. That headline is priced. Do not re-trade yesterday's Senate dump as if it is fresh news.
2. A 25 bp hike is almost fully priced. The number in the statement is not the trade. The SEP dots and Warsh's tone in the press conference are.
3. $BTC sits near $75.6K after probing toward ~$75.0K. Session low ~$74,968 is the line that says risk-off still owns the tape. A reclaim of $76,000 into the print means bids are willing to sit through the event.
4. $ETH is softer than $BTC into the meeting. If alts keep lagging into the presser, size smaller, not bigger.
I am watching $BTC into the Fed. Not guessing the hike. Watching how the tape digests Warsh.
Follow for the next US-session read after the press conference.
#ClarityActFacesProceduralVoteSept15 #US10YearTreasuryYieldNears5% #CryptoLiquidations$674MIn24H