- The FOMC meeting, coupled with Donald Trump’s post, hinted at a potential end to QT in April. 🎭
- Positive sentiment was further fueled by key metrics and notable figures like Brad Garlinghouse addressing the crypto summit. 🚀
The crypto markets, ever the fickle mistress, reacted positively to expectations of reduced monetary system rates for the medium term. FOMC comments were less strict than anticipated, and rising activity in conventional financial markets fueled optimism. Yet, rates remained unchanged, with no clear indication of potential reductions. 🤷♂️
Jerome Powell, Chair of the Federal Reserve, emphasized that high interest rates are essential to combat inflation. He lowered economic growth projections, suggesting improved market conditions. However, he attributed economic challenges to aggressive policies implemented during President Donald Trump’s administration. 🎯
Arthur Hayes, co-founder of BitMEX, noted on X (formerly Twitter), that Powell had delivered his objectives leading to an expected end of quantitative tightening on the 1st of April. Hayes said that the true bullish shift would probably emerge from an SLR exemption or the return of Quantitative Easing (QE) measures. This was backed by a post by Trump on Truth Social reading;
“The Fed would be MUCH better off CUTTING RATES as U.S. Tariffs start to transition (ease!) their way into the economy. Do the right thing. April 2nd is Liberation Day in America!!!”
Hayes saw $77K as the possible bottom for Bitcoin but predicted stocks could decline further before reaching Powell’s desired policies thus investors needed to stay flexible with ample funds. 💰
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Bitcoin spot ETFs saw an inflow of $11.7984 million, reflecting increased demand. In contrast, Ethereum [ETH] spot ETFs recorded their eleventh consecutive day of outflows, totaling $11.7459 million. With Bitcoin leading the crypto markets, this trend signaled strong bullish sentiment. 🐂
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2025-03-20 18:17