Crypto's at $80k but SHOULD WE BE EXCITED? Fed hiked…
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Crypto's at $80k but SHOULD WE BE EXCITED?
Fed hiked rates, boj hiked rates, clarity act died in the senate, all in like 3 days. and crypto barely blinked and now it has crossed $80k.
People are excited, which is understandable and coming up with all kinds of theories. So I'm sorry to be the buzzkill but I think we need to understand what's actually happening instead of just going with the hype because that's how people make stupid decisions and lose money.
The fed hike was like 90%+ priced in before it even happened. Same with the BOJ move. Markets trade expectations. Once something's priced in, the news stops being news by the time it lands.
The clarity act thing is actually more interesting though. Just today, the CFTC quietly filed their own rulemaking to regulate crypto markets directly. It's still currently sitting at "prerule" stage though, meaning no draft text exists yet, just the agency deciding whether to write one. Basically, they are doing themselves what congress couldn't.
Oil's a different and an interesting story. Saudi pipeline getting hit and Europe literally losing oil supply next month and crypto not reacting to that yet is unusual to say the least.
Rate hikes being priced in makes sense. A physical oil supply shock not moving the needle yet is either really bullish or really not paying attention yet. So, watch out for that over the next few days.
#cryptocurrency
Fed hiked rates, boj hiked rates, clarity act died in the senate, all in like 3 days. and crypto barely blinked and now it has crossed $80k.
People are excited, which is understandable and coming up with all kinds of theories. So I'm sorry to be the buzzkill but I think we need to understand what's actually happening instead of just going with the hype because that's how people make stupid decisions and lose money.
The fed hike was like 90%+ priced in before it even happened. Same with the BOJ move. Markets trade expectations. Once something's priced in, the news stops being news by the time it lands.
The clarity act thing is actually more interesting though. Just today, the CFTC quietly filed their own rulemaking to regulate crypto markets directly. It's still currently sitting at "prerule" stage though, meaning no draft text exists yet, just the agency deciding whether to write one. Basically, they are doing themselves what congress couldn't.
Oil's a different and an interesting story. Saudi pipeline getting hit and Europe literally losing oil supply next month and crypto not reacting to that yet is unusual to say the least.
Rate hikes being priced in makes sense. A physical oil supply shock not moving the needle yet is either really bullish or really not paying attention yet. So, watch out for that over the next few days.
#cryptocurrency
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