⚠️Today's news 🗞️ about the CPI index look a little bit like "Dooms Day Prophecy" 💢🗣️🔊
The title basically says :
⛽🛢️Oil is expensive.
The Fed may (most probably will) hike.
$BTC is struggling.
Altcoins are getting crushed.
Even the supposedly bullish Bitcoin golden cross is already failing its first test.
Somehow, I still don't see a reason for panic.
The CPI result was pretty much what was expected overall. Yes, there was a hotter number inside it, and that makes a September hike much more likely.
👀 But look at everything happening at the same time. It is looking like Murphy's Law coming true
👉 "Everything that can go wrong , will Go wrong, all at once" 🤷
It's September, historically one of the worst months for crypto.
We have the ongoing war around Iran and oil;
What feels like a never-ending war in Russia-Ukraine;
The US elections coming up;
The Clarity Act still being pushed around;
Europe getting stricter about crypto;
🌪️and a million little battles,all one after another...
So yes, all the bearish signals are here. At once.
But we also have BTC is still holding around $77K.
We Leo have the US Stocks going up right after the CPI news 📰 .
We have Oil dancing around $100.
Silver and Gold at it's place
And that's what I'm watching. 👀
The Fed will probably hike next week. The question for me is
whether the market has already priced most of that fear in.
If Fed hike will that be some disaster -level event or we already paid the price?
If this turns out to be one hike rather than the beginning of a much bigger tightening cycle, I don't think the reaction has to be as bad as the headlines make it sound.
I'm staying bullish enough to hold my position, but not bullish enough to ignore the risks. Cautious bullish if you will... Crypto has survived worse, we don't brake easily.
What do you think: Fed hike and more pain, or hike already priced in?
#CPIWatch