🔥 Jun FOMC in a nutshell and the short-term #Bitcoin forecast until the end of 2024

- Rate cut decision: Was unchanged (As expected)
- Rate cut times in 2024: Most likely one, depends on the economic data
- Rate cut times in 2025: Increased to 4 times from 3 times in the previous plan
- Fed Chair's tone: NEUTRAL (No Hawkish - No Dovish)
- Fed Chair's outstanding confirmations: No Fed mems think about hiking rate. Fed will be taking action sooner whenever the economy starts sending some "unhealthy" signals. Fed doesn't need to wait for inflation to be pulled back to 2% to start the rate cut. May CPI was good
👉 Conclusion: Fed is still not confident to begin a new rate cut now and need more economy data, and that means upcoming CPI, PPI, and Jobs data are becoming more important than ever

Instant Effect:
- S&P500: Broke through 5,400 and reach new ATH
- NASDAQ: Broke through previous ATH and set new ATH
- DJIA: Closed with a slight dump of -0.09%
- $BTC surged to $70K after a very good CPI data but started dumping since the FOMC meeting was begun. It sometimes broke down $67K barrier and is now slightly above that price. But why it has been declining since then when it's supposed to have the same effect like Stock Market?

👉 The most appropriate answer probably comes from current investor perspectives which are seeing BTC price is at a high price and among record highs. That makes Stock Market has been become more attractive temporarily
👉 Therefore, BTC will go sideways to a quick correction for a while and will pump hard whenever economic data are negative. And if the inflation data continues to decrease, BTC would set at least two new ATHs from now till the end of 2024
👉 In case a quick correction happens, $55K is a strong barrier to stop the bears

- Trade Wisely and NFA -

🚨 Just In: 🇺🇸 Consumer Sentiment falls to 7 months low

It declined to 65.6 in June, down from 69.1 in May and below the 71.5 Dow Jones estimate

#Inflation is cooling

🚨 Alert: Number #Bitcoin Whales (Balance >= 1K) is at 1,672 and still among record highs

It’s slightly dropped from its ATH (Jun 07 2024) of 1,679

🚨 Alert: Wall Street demand for #Bitcoin turned back to distributing yesterday, with a total inflow of all BTC Spot ETFs at -$226.2M

BlackRock flow was only +$18.2M, while Fidelity outflow showed a huge amount of -$106.4M. This’s even bigger than GBTC outflow amount of -$61.5M

🚨 Breaking: Gary Gensler has just said that the #Ethereum Spot ETF S1 applications will likely be approved by the end of the summer, at 🇺🇸 Congressional Hearing today

🚨 Just In: 🇺🇸 Producer Price Index (#PPI ) of May is much lower than expe

- PPI of May -
PPI: 2.2%
Last Month: 2.2%
Estimated: 2.5%

- Core PPI of May -
Core PPI: 2.3%
Last Month: 2.4%
Estimated: 2.4%

#Inflation is cooling down 🚀

💦 Thursday again and let’s continue to DCA our portfolio
($100 for #Bitcoin and $50 each for #Ethereum , #Solana and #doge⚡ )

Current Balance: $2,026
🟢 Total PnL: +$27.57 (+1.4%)

Each #HODLing Value & (PnL):
🟢 $BTC: $836.54 (+$36.86 || +4.6%)
🔴 $DOGE: $372.1 (-$27.75 || -6.9%)
🔴 $SOL: $385.89 (-$13.97 || -3.5%)
🟢 $ETH: $432.06 (+$32.43 || +8.1%)

🔄 UPDATE The Total #Bitcoin Spot #ETFs Net Inflow of Wednesday Jun 12 2024 by two words: BOUNCED BACK 😎

Total inflow: $100.8M
#GBTC flow was Zero and had no outflow while #Fidelity was MVP with +$50.6M
IBIT: +$15.6M
BITB: +$14.5M
HODL: +$11.6M
ARKB: +$8.5M
The rest: ZERO

🚨 Just In: The Federal Reserve (FED) has just decided to keep rate unchanged in this Jun #FOMC meeting

This result was as expected. All eyes are on #Fed Chair Jerome Powell’s tone at the press conference in the next 30”

🚨 Just In: 🇺🇸 CPI is lower than expected in May 2024

- CPI of May -
CPI: 3.3%
Last Month: 3.4%
Estimated: 3.4%

- Core CPI of May -
Core CPI: 3.4%
Last Month CPI: 3.6%
Estimated: 3.5%

#Bullish 🚀 as #Inflation is cooling down and you can see the #Bitcoin price are rising insanely right after the news

⚠️ Warning: Future trading right ahead of 2:30PM (ET) today might be considered as high risk

Today, the whole world is looking forward to Fed Chair Jerome Powell’s tone in his press conference at 2:30PM (ET). #Bitcoin and the entire #Crypto prices will be very volatile in both Fed Chair hawkish or dovish tone

- Trade Wisely and NFA -

🚨 Breaking: Donald Trump once again confirms his strong support for #Bitcoin officially on his TruthSocial: “We want all the remaining $BTC to be MADE IN THE USA!!! It will help us be ENERGY DOMINANT!!!”

Bullish 🚀

🔄 UPDATE The Total #Bitcoin Spot ETFs Net Inflow of Tue Jun 11 2024: BLOODY 🩸

Total Inflow: -$200.4M
GBTC: -$121M
ARKB: -$56.5M
BITB: -$11.7M
FBTC: -$7.4M
HODL: -$3.8M
The rest and even Black Rock IBIT: Zero

⚠️ #Bitcoin used to dump hard during world biggest football events especially in the last two events:

UEFA Euro 2020: Average $BTC fell about 37.4% compared to a month earlier and bounced back about 31.6% in a month later

FIFA World Cup 2022: Average BTC fell about 12.2% compared to a month earlier and bounced back about 29.6% in a month later

If Fed Chair Jerome Powell’s tone is hawkish on tomorrow after FOMC Interest Rate Decision, price might be dumped so hard because many of HODLers find a reason to withdraw and seeking their lucks in the upcoming EUFA Euro 2024 which will be kicked off on this Sat Jun 15

#WRITE2EARN

GM Binance Fam

The winning streak of all #Bitcoin Spot ETFs has been broken after yesterday trading session

Total Inflow: -$64.9M
GBTC: -$39.5M
BTCO: -$20.5M
BRRR: -$15.8M
FBTC: -$6.3M
BITB: +$7.6M
IBIT: +$6.3M
The rest: ZERO

⚠️ FEAR OF STAGFLATION AND NO RATE CUT ARE RISING ⚠️

🚨 #Apple has just unveiled “tap to pay” between Iphones, a quick and private way to exchange Apple Cash without sharing phone numbers, email address

But remember it’s “APPLE CASH”

I’m Ok with my #Crypto payment methods, also no one knows my phone & email and it’s “MY CASH” 🤷

⚠️ Warning: The #Bitcoin Accumulation Trend Score indicator has been falling into distributing trend (whenever this happens, it indicates that a big part of the network is distributing) from April 11 until present time while $BTC price is closed to ATH and those #Spot #ETFs currently have 19 days of positive inflow in a row

You know why and you know who are selling BTC to who, don’t you?

- Trade wisely and don’t be those paper hands -

#WRITE2EARN

⚠️ How #Bitcoin price would be after Fed rate cut decision on this Wednesday?

1️⃣ According to CME FedWatch Tool, there is 99.4% chance that the #Fed will keep interest rates unchanged, so ignore the opposite case but let’s focus on Fed Chair Jerome Powell press conference’s tone right after this Wed interest rate decision

2️⃣ Hawkish tone: $BTC might dump from 5 to 10% (estimated) within the next 48hrs

3️⃣ Neutral tone: BTC might continue to go sideways but also might break previous ATH if inflation and jobs data keep pushing pressure to Fed to start the rate cut sooner

4️⃣ Dovish tone: BTC might have massive pumps, break previous ATH, set new ATHs

- Trade Wisely and NFA -

#WRITE2EARN

GM Binance Fam

A new week has come, #Crypto market is slightly 💚, and congrats to $OM & $BRETT #HODLer

🔥 Important Economic Reports on this week:
- Wed June 12 Morning: 🇺🇸 CPI and Core CPI
Noon: FOMC Interest Rate Decision
- Thu June 13: 🇺🇸 PPI and Core PPI

#WRITE2EARN

🟢 Another week has ended and Wall Street didn’t make us disappointed

Total #Bitcoin Spot ETFs Net Inflow of Friday Jun 07 24 was $131M and continued its winning streak to day 19th of positive net inflow in a row

GBTC: -$36.3M
BITB: -$7.9M
IBIT: $168.3M and ARKB: $6.9M

#WRITE2EARN