BTC turns the car continuously, it's really dizzying.
The CPI and Core CPI decreased beyond expectations which is a very positive thing for the crypto market. BTC increased and pulled the whole market up sharply afterward.
However, CPI is also a measure that the SEC can rely on to cut interest rates.
This morning, the FED announced to keep interest rates unchanged at 5.25% - 5.5% for the 7th consecutive time. And during the FOMC meeting, the FED predicted that interest rates would only be reduced once this year instead of twice as predicted. This caused the market to rotate 180%.
Crypto market is now very much influenced by macro, it's too harsh, guys.
#BTCFOMCWatch #CPIAlert #TopCoinsJune2024 #ETHETFsApproved #BTC
