š Market Analysis - Nov 14.
While the market continues to show a smooth unload of BTC indicators and strong price action in the altcoin market, today saw another crucial macroeconomic update:
Inflation in the US decreased to 3.2%, compared to the forecasted 3.3% and the previous 3.7%.
ā Why is this important?
Although we observe a reaction on smaller timeframes, we'll see the real impact in the mid-term. Inflation itself cannot directly impact cryptocurrency prices. However, it's crucial to remember that the Federal Reserve makes decisions on interest rates based on inflation metrics.
Note that the inflation decrease in late summer led to the pause in rate hikes (since July, it has remained at 5.5%) followed by an uptrend at the crypto market. šāāļø In the current situation, leading up to the December Fed meeting, we might witness BTC surpassing $40,000.
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