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THE MARKET UPDATES
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Bullish
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🚨 BREAKING 🚨
A WHALE JUST BOUGHT 11,950
ETH
WORTH $51.32 MILLION ON BINANCE.
BIG MONEY IS BUYING THE DIP.
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BREAKING: 🇵🇭 PHILIPPINES INTRODUCES BILL TO CREATE A NATIONAL BITCOIN RESERVE. THIS IS MASSIVE !!!
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BREAKING: 🇺🇸 MORGAN STANLEY SAYS CPI AND JOBS DATA WILL GUIDE FED, NOT JACKSON HOLE.
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TODAY IS A BIG DAY FOR CRYPTO 🚨 At 10AM ET, Powell will deliver a speech at the Jackson Hole Summit. For the past week, the markets have been dumping because of this. The reason is that people think Powell will be hawkish. This is why the September rate cut probability has dropped to 71% But there’s one thing most people are missing. Since the last FOMC meeting, the jobs market has gotten worse. The unemployment rate spiked to 4.2%, initial jobless claims are rising, and jobs data are being revised down. Also, bankruptcies are now at their highest level since 2020. This is all happening while inflation is still below 3%. I think Powell’s speech won’t be as hawkish as the market is expecting. And if he hints about a rate cut, that’ll be the beginning of a massive short squeeze. If he sounds hawkish, the markets won’t dump much as it has already priced that in. In either case, BTC and alts could rally higher in the coming weeks 🚀
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$ETH IS CONSOLIDATING IN A BULLISH INVERSE HEAD AND SHOULDER ALL EYES ON THE UPSIDE BREAKOUT
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🇺🇸 PRESIDENT TRUMP TO MAKE A BIG ANNOUNCEMENT TODAY AFTERNOON FROM THE OVAL OFFICE.
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Fed Chair Powell Signals Potential Preemptive Action Amid Labor Market Concerns
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