Two things happened this week that changed how I'm thinking.
Main thing is definitely Fed Chair Kevin Warsh signaling that inflation risks have eased. That's big for crypto.
The market immediately reacted, with
$BTC jumping over 4% to trade above $61,000. It's the strongest level we've seen in over a week.
This dovish sentiment from the Fed usually means more liquidity in the system, which is a green light for risk assets like Bitcoin and altcoins. We saw
$ETH also push up to $1649.42, showing broad-based strength.
It's a clear indication that macro factors are still a huge driver. With the Fed sounding less hawkish, the path of least resistance for crypto looks up.
$BTC is currently at $61306.00 and holding steady.
I'm feeling bullish on the short to mid-term here. The relief rally feels sustainable if this sentiment holds.
#CryptoOutlook #Bitcoin #FedSignals #Bullish #MarketAnalysis