Today the US releases PCE inflation, the number the Fed actually watches.
Quick context, because this matters for every asset you hold:
The Fed raised rates on Sep 16 to a range of 3.75% to 4%, the first hike since 2023. Their own projection has PCE inflation at 3.7% this year against a 2% target. The 10 year Treasury yield touched 5.23%, the highest since 2007.
When safe government bonds pay over 5%, every risky asset has to compete with that. Gold, stocks, $BTC and everything else.
A hot P...
Open Big Short on Bitcoin, Ethereum and XRP
$BTC Short Trade Scalp
entry: 83,450 to 83,950
SL: 84,800
TPs: 82,850 to 82,200
{future}(BTCUSDT)
$ETH Short Scalp Trade
Entry: 2675 to 2698
SL: 2740
TP: 2652 to 2610
{future}(ETHUSDT)
$XRP Short Scalp Trade
Entry: 1.505 to 1.524
SL: 1.568
TPs: 1.489 to 1.465 and then 1.421
{future}(XRPUSDT)
#SECChairWantsStockMarketsOnChain
$MOVR HAS RISEN AGAIN AMONG THE OLD COINS!
Movr is one of the old coins, like $NMR and $QNT , that saw gains yesterday. I told you yesterday that this trend would continue, but since there are so many old coins, itâs hard to know which one it will be.
Todayâs lucky one turned out to be MOVR. As Iâve said before, I donât expect these coins to keep rising. Tomorrow, money will likely flow into a different old coin.
Thatâs why averaging down and going short makes a lot of sense to me.
MOVR is...