Luca Netz

🚨 $BTC drops sharply after Jackson Hole! Fed Chair Kevin Warsh’s comments came in more hawkish than markets expected. Warsh said inflation is still too high, the 2% PCE target is certain and fixed, and the Fed still has work to do unless inflation returns to target at a sufficient pace. He also noted that the labor market remains stable and financial conditions are not restrictive enough. #warshsaysinflationisfedtopfocus Following the remarks, #Bitcoin dropped around 4%. The scenario markets feared is back on the table: rate cuts could be delayed, while future rate hikes could even become a possibility. For Bitcoin and other risk assets, higher-for-longer rates remain one of the biggest risks. Now, all eyes are back on the next inflation data.