The market is in a fiery race
The market is boiling right now: coins jumped 20% in a single day, Bitcoin climbed back above 104,000, and Ethereum crossed 2,300. But behind the hype, there's a gradual distribution of whales, and on-chain indicators hint that we may be nearing the end of an uptrend, not the beginning of a new one.
The market is moving because of the macro context and US decisions.
Federal Reserve Chairman Jerome Powell held interest rates steady yesterday. This decision was expected, but what really moved the market were the signals he gave that monetary policy could be eased if inflation stabilizes. This opened the door to new liquidity flows into the market—particularly from institutions.