Inflation data better than expected


Inflation data better than expected and the markets appreciate it yesterday. It was the news we were waiting for and it didn't take long for the markets to add it to the price, the data showed a rise of 7.7% instead of the 7.9% expected. That was enough to begin to see the end of interest hikes by about 5%. With the last increase we are already at 4.25% and a 0.50% increase is expected at the next FED meeting and another 0.25% increase at the March 2023 meeting to leave interest rates at 5% and begin to back.

Bitcoin's move was also positive but if it doesn't break the $18,600 barrier, I highly doubt it will follow the trend of the traditional markets. The impact of the FTX disaster is going to be devastating, several protocols are going to fall and those that remain will be very aligned in favor of the regulations. It remains to be discovered what was the real exposure of many exchanges to the FTX token and the consequences of the fall in its price will mean a cascade of liquidations for many of them.

It is possible that if we do not gain strength in this upward movement, we will see Bitcoin look for $15,000 and even $13,000 again. We will have to be very aware of the movements of the large portfolios, which for the moment continue to accumulate. Accounts like MicroStrategy are back in the spotlight when we touch on these prices.

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The Crazy Dude
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Cryptoworld by The Crazy Dude
Cryptoworld by The Crazy Dude

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