📊🔍 Tomorrow is VERY KEY for Crypto.
📊🔍 Tomorrow is VERY KEY for Crypto.
YOU NEED TO PAY ATTENTION.
For those unfamiliar with USD data, I'll keep this simple.
Last week, cryptocurrencies rallied as Consumer Price Index (CPI) inflation data fell, suggesting that interest rates (the cost of borrowing money and the reward for saving it) could decline.
Tomorrow, the focus will be on the FOMC minutes.
The KEY FOCUS for traders in the FOMC minutes will be the current CPI (inflation) data which has recently been trending lower (headline, Core, PEC).
WHAT YOU NEED TO KNOW!
First, although VERY VERY unlikely, if the FED decides to cut interest rates in July, the cryptocurrency market will likely go parabolic (short to medium term).
Realistically, what we want for cryptocurrencies is strong sentiment towards a rate cut in September (this will help keep current crypto prices stable, in the short to medium term).
The worst case scenario, although EXTREMELY unlikely, is that an increase in interest rates could still occur, which would significantly reduce cryptocurrency prices.
In my opinion, they will lean towards an interest rate cut in September. They could hint that this is their plan but NOT confirm anything.
DO NOT short-term trade at this time; could become very volatile in ANY direction.
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