CRYPTOCURRENCY WILL SOON GO BULLISH
My primary attention is currently directed toward the CIP print scheduled for this month's 14th to provide direction for the markets. Either the market needs to readjust because inflation is continuing to heat up for a longer period of time, or the adjustments we've seen from the beginning of February, when we saw the dollar gain strength, yield rise, and risk sell-off. A somewhat lower CPI print also reveals the readjustment's relapse. Also, March 14th is involved because our most recent print was not entirely conclusive. Since February, there has been a correlation between inflation-driven economic policies and the cryptocurrency market, stock market, and other markets.
For the FED's fund, rates weren't substantially priced over 5% starting in February, which correlates with the two-year yield. With the inflationary data since then, rates are currently almost at 6%. I believe the FED will keep to its target interest rate of 2.5 basis points even if inflation increases. The markets are focused on this CPI and are hoping for it. Currently, Bitcoin appears to be quite weak, and the cryptocurrency market may tilt to the downside and consolidate before moving higher or sideways, which is what it is currently doing on the hourly chart.
Due to limited runway, the FED is most likely going to make a 25 basis point adjustment. The effects of rising interest rates are already being felt. With of all the macro activity going on, there is never a dull moment in the crypto realm. The SEC is engaged in a bullish regulatory crusade at the moment. Yet, the attack on Binance that I have seen leads me to believe that the regulator is working for institutions to eliminate competition. Trump is facing a lot of criticism, and many of the accusations Elizabeth Warren and other people have made against him don't appear to hold any water. They assert that the money was laundered to pay players roughly $10 billion, which is a big assertion to make without supporting evidence.
Lets hope for the best. Thanks for sharing this interesting content.
We are already seeing some interest price action.