This is a good demonstration of how #onchain analysis works and can help you predict the future.
On 28-29 of June we can see a sellout from long term holders according to long term SOPR data. Then we can see a big red candle from the sellout on 30th of June.
Again, on 1st of July we can see a big spike in long term SOPR chart. The results on #Bitcoin price can be seen on 3rd of July with price growth.
#onchain analysis can help you see the future. Key point is you have to observe the on-chain charts carefully to understand how price will move.
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In other words:
The US economy is doing well, but there are some signs of cooling. The Fed is keeping a close eye on inflation and will take action as needed to bring it down.
#FOMC#BITCOIN
FOMC projection key points :
• The economy is growing at a rapid pace.
• Job growth has slowed but remains strong.
• Unemployment is low.
• Inflation is high.
• The US banking system is healthy.
• Tighter credit conditions will likely impact the economy, jobs, and inflation
• The Fed considers a wide range of factors when making its decisions, including labor market conditions, inflation, inflation expectations, and financial and international developments.