Tomorrow the Bank of England will release its Monetary Policy Report, a summary and the MPC vote (forecast 7-0-2, previous 3-0-6) at 12:00 UTC, followed by Governor Bailey's speech at 12:30. The key number is the Official Bank Rate, forecast at 4.00% after a 3.75% hold. On Friday the US will publish Average Hourly Earnings m/m (forecast 0.3%, previous 0.1%). per ForexFactory.
If the BOE lifts rates, a stronger pound could push the dollar lower, easing pressure on $BTC which is trading around $80,548 (24h +3.61%) and $ETH near $2,435 (24h +5.98%). Lower dollar liquidity usually lifts risk-on assets, but the Fear & Greed Index is still at 34 (fear), so appetite stays cautious.
Do you think the rate hike will give crypto a breather or spark a fresh sell-off?
#Macro #BTC #Crypto
If the BOE lifts rates, a stronger pound could push the dollar lower, easing pressure on $BTC which is trading around $80,548 (24h +3.61%) and $ETH near $2,435 (24h +5.98%). Lower dollar liquidity usually lifts risk-on assets, but the Fear & Greed Index is still at 34 (fear), so appetite stays cautious.
Do you think the rate hike will give crypto a breather or spark a fresh sell-off?
#Macro #BTC #Crypto