$BTC and $ETH are likely to suffer a slow dump that will last weeks or even months. We will have some pumps in between, but the overall trend is down.
The dump will be very slow, but I think we will get 66k for sure. Probably even lower as global economics worsen.
The FOMC meeting coming today is likely to be as expected or worse, there are no rate cuts. In my opinion, a rate hike is necessary to end this monetary tightening that lasted for so long and things are not getting fixed.
The economy, in theory, cannot last so long with high interest rates. Yet we are seeing massive inflow to investments. Especially retail. Like Bitcoin or NVIDIA.
Sure the wages are getting higher, actually too high but household debt is also rising. Just spam credit cards right? Which doesn't make sense in a high interest rate economy, but it still is happening.
Since something that should not be happening is being prolonged for a long time, the aftershock will be devastating. Stocks are very likely to crash..
Anyways you guys are only interested in crypto, so what happens to crypto? Of course same thing, crash. Thanks to ETF, Bitcoin is now directly exposed to the trend of traditional finaicials market.
Before ETF, Bitcoin didn't really give a shit about "Interest rates", "Unemployment rate". Who cares, just click buy HODL and sell. Now it's more formalized, and also very boring.