- BTC clung to the $100K-$105K like a lovesick puppy awaiting the FOMC’s call. 🐶
- 21 Shares analyst wittily muses that a whimsical rate cut might send BTC spiraling upwards. 🌪️
Ah, Bitcoin [BTC], our digital darling, has held the fort at the $100K level, bracing for the grand drama of the Fed rate decision and PCE inflation data. 🎭
Oh, the market, in its infinite wisdom, scarcely anticipates a rate cut, with a 99% probability of a rate pause.
Yet, Matt Mena, the oracle from 21 Shares, has whispered to AMBCrypto that should Cupid’s arrow strike with a 25bps cut, the market could erupt in joyous revelry. He quipped,
“Considering the current bedlam in equities, the notion of a rate hike is as laughable as a monocle on a moose. But a surprise 25bps cut? That would send the bulls into a glorious stampede.” 🐂
All eyes, dearest reader, shall be fixated upon the Federal Open Market Committee (FOMC), their cryptic forward guidance, and the eloquent musings of Chair Jerome Powell’s much-anticipated press conference.
Will FOMC heed Trump’s call?
The audacious Mr. Trump has bellowed for interest rates to plummet, making the forthcoming guidance a veritable must-see. Mena added,
“If the Fed hints at two or more cuts, it could be the elixir Bitcoin needs to shatter the $110,000 ceiling and frolic upwards to the dizzying heights of $125,000 and $150,000.” 🚀
However, the Fed, ever the harbinger of order, has voiced inflationary apprehensions if the President’s sweeping tariffs come to pass.
Our awaited oracle, the Personal Consumption Expenditure (PCE) price index, shall unveil its secrets on January 31, a day post-Fed pronouncement.
Should the data chill expectations, BTC could soar to the heavens; contrariwise, it might plummet like Icarus.
Indeed, the coming 48 hours promise to be a tempest of volatility as the players in this grand theatrical production adapt to the latest revelations and edicts.
Curiously, the Options market, ever enigmatic, has displayed a tinge of bearishness and protective manoeuvres, revealed by a negative 25RR (25-Delta Risk Reversal) set for January 30th’s expiration.
Amazingly, the 25RR for the Friday Option expiry hinted at optimism, favoring calls (those bullish wagers), pointing towards hopeful expectancy for the impending inflation data.
Upon the grand stage of the price chart, Bitcoin has maintained its elegant promenade within the $100K-$105K corridor since January 17th. It has danced gracefully above critical short and long-term Moving Averages (MA), suggesting a buoyant outlook. 🩰
Yet, beware! A fall below the perilous 50-day MA of $98K might hasten a descent to the melancholy depths of $91K.
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2025-01-29 14:20