Bitcoin (BTC) has managed to trim its yearly losses to just 11%, as traders jumped on board once again following the SEC's nod to the industry.
Although the initial euphoria has eased a bit, we still think the market's reaction could have put an end to the top crypto's bearish cycle.
The Treasury Department's decision to inject twice the amount it usually buys back in the bond market also signaled that the Trump administration is committed to pushing ******* et valuations to higher levels, with or without the Fed's support.
However, the rally may have hit a temporary ceiling, as ******* ysts once again see high odds that the U.S. central bank will raise rates in September.
Data from FedWatch shows that the probability of a 25 basis point increase during the next FOMC meeting shifted dramatically, jumping from 40% a week ago to 65% at the time of writing.
#once #Bitcoin #treasury #fedwatch
Although the initial euphoria has eased a bit, we still think the market's reaction could have put an end to the top crypto's bearish cycle.
The Treasury Department's decision to inject twice the amount it usually buys back in the bond market also signaled that the Trump administration is committed to pushing ******* et valuations to higher levels, with or without the Fed's support.
However, the rally may have hit a temporary ceiling, as ******* ysts once again see high odds that the U.S. central bank will raise rates in September.
Data from FedWatch shows that the probability of a 25 basis point increase during the next FOMC meeting shifted dramatically, jumping from 40% a week ago to 65% at the time of writing.
#once #Bitcoin #treasury #fedwatch
2 months ago
