Possible tweezer top forming on the weekly unless we break cleanly above 109K. 3-day pennant may consolidate.
Daily is overbought, suggesting a pullback to the channel’s low. If the 15min loses the 200MA, we'd expect a drop.
🗞️ Need to catch up on the news? Here's our top 10 from today:
🔸 BlackRock's IBIT becomes the fastest ETF to top $70 billion in just 341 trading days, surpassing GLD’s record by 5 times.
🔹 SEC Commissioner Paul Atkins says the right to self-custody crypto is a core American value and should be protected to reduce costs and support on-chain activity.
🔸 U.S. and China delegations will continue trade talks in London tomorrow.
🔹 Tether will open-source its Bitcoin Mining OS (MOS), leveling the playing field for smaller miners and eliminating reliance on third-party software.
🔸 Nasdaq files SEC Form 8-K confirming proposal to expand crypto benchmark from 5 to 9 digital assets, adding $XRP, $SOL, $ADA, and $XLM, allowing Hashdex Nasdaq Crypto Index US ETF (NCIQ) to transition to broader index.
🔹 Chainlink $LINK powers pilot enabling CBDC–stablecoin exchange between Hong Kong and Australia with Visa, Fidelity, and China AMC.
🔸 Microstrategy acquires an additional 1,045 $BTC at an average of $105,426 per Bitcoin.
🔹 U.S. spot Ethereum ETFs have now seen inflows for 15 trading days in a row, totaling over $837 million.
So...
Some dude drops fake news
Everyone goes wild, market pumps $2.5T
It’s all fake, so they panic and dump
Wall Street’s just meme trading with a dress code?
RECAP OF FOMC AND STREAM:
FOMC sees growth going lower
FOMC also sees inflation going higher.
At the moment FOMC is comfortabel with unemployment and growth and not looking to make any major changes.
Powell is concerend about Tarrifs and trade war. He will not be looking to make any cuts in May as of now and will look for data for any further monetry decisions. He is seeing tarrif resulting in inflation going up and is worried about that.
Treasuries run off has been reduced so thats good but doesnt matter overall given he is net net mid to slightly hawkish.
He is not worried about 4.1% employment and would look for htings to get much worse before cutting or actually being concerned.
FOMC is potentially looking to cut 2 times this year which is less than what market priced in.
Markets initially moved up on potentially dovish Powell to only pullback towards the end on his Trade war concerns.
Trade: We shorted ETH at the end of the stream Live around 2042. We ware looking to scalp 2020 and under.. stop out is at 2040 now to breakeven net of fees.
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