Bitcoin begins the second week of November battling some familiar FUD — how will BTC price action react? (Reporting via WilliamSuberg)
Any lower-than-expected CPI readout could be a boon for crypto and riskassets, as it notionally increases the chances of the Fed pulling back on rate hikes sooner.
The rate hike announcement was something of a fake tone-setter, having sparked volatility which canceled itself out within days.“If US CPI this week is still high we are going to see that upside on gold reversed, USD strength back and Equities bears back in play.” Highly positive funding rates suggest that the market expects BTC/USD to go higher and traders are paying for the privilege to go increasingly long BTC.
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