Tomorrow is VERY KEY for Crypto.
You NEED to pay attention.
For people without much understanding of USD data i will try keep this simple.
Last week Crypto rallied because of CPI(inflation) data coming in lower, this means interest rates(cost to borrow money,reward for saving money) could come down.
Tomorrow we have the FOMC minutes,
The FOMC minutes KEY FOCUS for traders will be current CPI(Inflation) data trending lower(headline,Core,PEC) recently.
WHAT YOU NEED TO KNOW!
Firstly,though VERY VERY unlikely, if the FED looks to cut interests rates in July the Crypto market will go Parabolic👆(short term-mid term)
What we realistically want for Crypto is a strong sentiment towards a September cut(this will keep current Crypto prices stable,short-mid term)
Worst case scenario though EXTREMELY unlikely is that an interest rate hike could still happen, this will drive crypto prices down, A LOT!
In my opinion they will lean towards an interest rate cut in September, they might do as they always do and suggest this is their plans but NOT confirm anything.
DONT enter short term trades around this time, it could get very volitile in ANY direction.
Be smart.
Peace
