The markets have seen an inflow of $300 million in $ETH on a single day.
Institutionals are buying, so should you.
The real ‘bull’ market is still about to emerge.
$ALTS
Since rejecting from $425bn resistance (black)...
Altcoin Market Cap has retraced -51%
This is still shallower compared to the previous rejections from ~$425bn resistance (-69% and -85%)
Should Altcoin Market Cap bottom in the near future, then Altcoin Market Cap will have an easier time at breaking beyond the weakened $425bn resistance over time
#BTC #Bitcoin
@kyledoops@PizzinoMichael I stopped watching CB because of the clickbait titles and thumbnails. It's so unprofessional and usually things go way different than the title suggests. Really bad way of putting out information. Just to max farm (and create FUD).
The more screentime users spend looking at a post, whether text, pic or video, the more it is boosted.
Video posted natively to this platform will be boosted more than an external link, because way more time is spent watching a video than clicking on a link.
PRINT TRILLIONS WHILE HIKING RATES
The Fed now has “high rates” like SF has “low crime rates”. It says it does, but it doesn’t.
Because you have to be pretty naive to think today’s rate hike means the Fed is still “fighting inflation”. You can see it in the graphs — the printing is already vertical[1,2], and trillions in new money is available for both domestic[3,4] and foreign[5] banks. Yet the Fed continues hiking rates to fool low information voters into thinking the last two weeks were just an isolated series of multi-hundred-billion dollar bank failures, and that their policy is unchanged. Nothing to worry about, the Western banking system is resilient, and it’s normal to have banks die at the rate of five in ten days![10]
Because that’s actually all this state does: it fakes the rates.
Remember when SF claimed officially low crime rates[6] even as criminals robbed stores in broad daylight[7]? Remember when FDA prevented labs from testing so we all underestimated the COVID infection rate[8], till old people in New York started dropping dead? And remember when the Fed claimed the inflation rate wouldn't be a problem[9] before anyone buying groceries found out it was an emergency?
The American state fakes the rates.
And that’s what’s happening with today’s “hike”. After killing five of their own banks[10], catalyzing a series of bank runs[11], and realizing the public now knew they’d made hundreds more banks insolvent[12,13], the Fed rolled out programs over the last two weeks that broke the normal relationship between “hiking rates” and “tightening monetary policy”.
All the losses the Fed rate hikes cause for domestic banks?
They’re printing money to cover it.[14]
All the losses they cause for foreign banks?
Printing money to cover that too.[15]
And the losses they cause for depositors?
Naturally, more printed money![16]
So now the banks don’t publicly die from bank runs. Instead, even as this rate hike keeps pushing bank stocks further into the ground[17], and banks further into insolvency[18], the banks know they can just get more printed money (eg at the discount window[19] for BTFP) to cover their losses. That’s what BTFP, the swap lines, and the effective “FedDIC” policy mean: infinite money.
And this infinite money is no longer abstract. It’s printed dollars that individuals touch directly when they wire their money out of banks they fear may collapse, which is happening everywhere from community banks[20] to Credit Suisse[21]. The money printer is now connected directly to your checking account. And in the digital era, the bank runs are of a historical scale.[22]
Remember also: the BTFP, swap lines, and FedDIC measures are *so enormous* that the Fed is doing them over weekends[23] with all the other central banks[24], and publishing multiple joint statements[25,26] assuring people that the “system is resilient”, even as Moody’s has downgraded the US banking system as a whole[27].
One of the things I hate about this system is that it’s evolved to be opaque, like a snake that’s evolved camouflage. If the Fed came outright and *said* they were digitally devaluing the dollar by printing trillions, that they were monetizing the debt as Dalio predicted[31] and even getting bondholders to abet the devaluation, everyone would flee for the Bitcoin exit. So instead they lie, to themselves and to others, just as Jean-Claude Juncker recommended[32]. As with CDOs[33] in 2008, the point is to fool themselves and to fool you.
But you have to see through the camouflage. They’re printing trillions[34,35] even as they’re hiking rates. Indeed, they’re printing trillions to compensate for the *consequences* of hiking rates. There will of course be other consequences to printing trillions. You can wait to find out, or you can get into Bitcoin now.
5 figures and 35 citations follow. 👇
BREAKING - FED hikes interest rates by 25bps!
No pause, but continuation and he’ll probably say that it will stick for longer as inflation needs to come down.
Most neutral outcome.
#Bitcoin hit $28,700 and follows scenario 1, still.
Powell will probably remain hawkish and do his standard thing, as he continued to hike with 25bps as well.
I think we'll be topping out for now and have some consolidation before continuation.
Interested at $25k.
Every #BTC Four Year Cycle consists of a:
• End of Bull Market year (Candle 1)
• Bear Market year (Candle 2)
• Bottoming Out year (Candle 3)
• Confirmed Bull Market year (Candle 4)
The worst is behind us already
The best still lays ahead
$BTC #Crypto#Bitcoin