CRYPTO IS GIVEN A ROOM TO BREATHE
We are most likely near the rate hike which could be finished as soon as March or April. That is getting the equity markets very excited which could request a broad risk appetite and it means crypto is given a little room to breathe. Until we get some counter-narrative, it seems the bulls are getting ready to run. The whole federal reserve narrative is getting clear and we will see the outcome of the meeting at the end of the month. We also see the emergency move by the bank of Japan last week to buy tens of billions in Bonds unscheduled. It shows the central banks still very easy to use money printing tactics in other to boost the economy and quantitative easing is the basis of their only moves.
It seems like sell pressure has dried up in the crypto market. All the major crises are majorly either over or they are stuck in lengthy allegations like FTX that could last for years. Bitcoin miners also stop selling just a few weeks ago and any retail money that was planning to capitulate did so a long ago. We could also just factor in that broader risk appetite attitude coming back into the market. Markets could become a self-fulfilling prophecy as long as the money keeps coming into the system to back up those moves. Many could be slow to adjust from a state of a completely devastating bear market mindset, the market could keep pumping without a meaningful pullback. We should pay attention that institutional buying has decided to show back up in a big way. We just have to keep our heads cool because a lot of things could still derail the market.
https://twitter.com/special78122/status/1616845899476488192?s=20&t=64vm3he4IXOxfmqGpqcxDQ
Bitcoin has finally make a positive move after a long time and it will definitely take altcoins along.