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Bullish
Is Bitcoin About to Have a Breakout? Price Study Ahead of a Fed Update
Trading slightly around $85,600, Bitcoin (BTC) surged higher on Tuesday, 1.5% on the day as investors prepared for Fed Chair Jerome Powell's forthcoming address. Markets are looking for signals the Fed could turn toward rate reduction sooner than anticipated as inflation increases and recession worries grow.
Conventional markets also showed promise. While crypto-linked equities like Coinbase (up 1.4% to $178) rode the tide of investor excitement, the S&P 500 and Nasdaq both rose around 1%.
Expectations of inflation soar; labor outlook darkens; bitcoin supported?
March Survey of Consumer Expectations data from the New York Fed shows alarming trends:
Rising to 3.6%, 1-year inflation forecasts are the highest since mid-2023.
Steady at 3.0%, the three-year view reflects residual caution.
Five-year projections dropped only to 2.9%.
Source: Consumer Expectations New York Fed Survey
Concerns regarding the employment situation are swiftly rising as well:
The most negative result since April 2020—44% of Americans believe the unemployment rate will climb during the next year.
Fifteen percent think they could lose their employment during the next twelve months.
That dread rises sharply among those making less than $50,000, suggesting growing financial stress.
A new high since October 2023, thirty percent of consumers believe their financial position will become worse.
These numbers muddy the Fed's balancing act. Although inflation is always a worry, growing joblessness is forcing the central bank to think about rate reduction earlier than predicted. The argument for Bitcoin and other distributed assets is strengthening with that change in expectations.
#BitcoinWithTariffs #SaylorBTCPurchase #BTCRebound #WhaleMovements #WCTonBinance $BTC $ETH $XRP
Trading slightly around $85,600, Bitcoin (BTC) surged higher on Tuesday, 1.5% on the day as investors prepared for Fed Chair Jerome Powell's forthcoming address. Markets are looking for signals the Fed could turn toward rate reduction sooner than anticipated as inflation increases and recession worries grow.
Conventional markets also showed promise. While crypto-linked equities like Coinbase (up 1.4% to $178) rode the tide of investor excitement, the S&P 500 and Nasdaq both rose around 1%.
Expectations of inflation soar; labor outlook darkens; bitcoin supported?
March Survey of Consumer Expectations data from the New York Fed shows alarming trends:
Rising to 3.6%, 1-year inflation forecasts are the highest since mid-2023.
Steady at 3.0%, the three-year view reflects residual caution.
Five-year projections dropped only to 2.9%.
Source: Consumer Expectations New York Fed Survey
Concerns regarding the employment situation are swiftly rising as well:
The most negative result since April 2020—44% of Americans believe the unemployment rate will climb during the next year.
Fifteen percent think they could lose their employment during the next twelve months.
That dread rises sharply among those making less than $50,000, suggesting growing financial stress.
A new high since October 2023, thirty percent of consumers believe their financial position will become worse.
These numbers muddy the Fed's balancing act. Although inflation is always a worry, growing joblessness is forcing the central bank to think about rate reduction earlier than predicted. The argument for Bitcoin and other distributed assets is strengthening with that change in expectations.
#BitcoinWithTariffs #SaylorBTCPurchase #BTCRebound #WhaleMovements #WCTonBinance $BTC $ETH $XRP
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