As Per The Report, I Expect No Rate-cut Today. However, Powell today shall hint an increased possibility of September cut, but he will not hint numerous cuts as He’ll say economy is resilient.
For crypto, that means we’ll overall after this FOMC maintain a bullish Bias, I do not believe cycle top is in, however, immediate short term if there is any shakeout below $BTC $114k - $111k support, it is not anything out of cards, should be long-worthy.
$SPX if experiences similar shakeout then August support shall be $5850, as later markets may continue to rise over wall of worry for the final topping later this year on everything
Also, I expect the September cut to be 50bps and not 25bps. Powell is a systematic guy, I believe he’d cut slightly higher than expected and observe the lag effect but markets will start pricing this in earlier, hence why I believe We could fronton September onwards and top out quickly after.
This is all good for $ETH BTC because Liquidity that flees to safety during wall of worries with optimism is NOT dependent right now on a July Rate cut.
BUT for Altcoins, I continue to maintain my stance that not All Alts will rally alike. We shall see a favorable Alt time but there is so much Garbage that collective Alt-Market as whole should CONTINUE to bleed against Bitcoin until looser monetary Policy such as a 75bps+ cut if not then expansion of balance sheet.
Therefore Garbage Alt Pumps between now And September are Exit Pumps to safer Alts. Garbage Alt can wait the actual Altseason where you may buy higher later if you have to and ride for quick 3-4 weeks the momentum before getting out rather than deciding now “which ones” and taking higher risk against by HODLing safer Alts.
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