A lot of macro data is coming out this week. Starting from Tuesday all the way to Friday. Including, on Wednesday we are expecting a decision on the Fed's interest rate.
The market is almost 100% likely expecting a rate cut of 0.25% on Wednesday. However, there is a possibility that the FOMC forecasts may disappoint investors since Powell might announce a pause in rate cuts at the beginning of 2025.
The market may react negatively to such a statement. Considering that all risky assets are currently at ATH, there are risks of a chain reaction. Until Wednesday, I really don't want to make any decisions.
Yes, BTC is once again reaching a new ATH, but for now, it looks more like a push than organic growth with volumes. Considering that important data is ahead, such moves from the market are more concerning than reassuring.
A week to sit on the fence (to refrain from new positions) and wait for the market to come out of uncertainty. If Powell actually says that the Fed may take a pause in lowering the rate starting from 2025, then this could certainly play out not in the best way for all risky assets.
Meeting on Wednesday.
I'm sure you couldn't make money on this news. On my parallel channel, I explain how to work with news, earn money from retro drops, and profit from arbitrage, so if you don't want to end up in tattered pants at the end of the bull market, then Pavel Durov will let you know where to find me 😏
Max_pro_crypto