๐จ Crypto Macro Update ๐จ
According to a fresh report from QCP (via PANews), yesterdayโs U.S. Producer Price Index (PPI) data has shaken up market expectations. The numbers have wiped out any chance of a 50bps Fed rate cut, keeping traders cautious. ๐
But hereโs the real bombshell ๐ฃ โ U.S. Treasury Secretary Besent announced that the government:
โ Will NOT sell its confiscated Bitcoin
โ Is exploring budget-neutral strategies to accumulate more BTC for reserves
Meanwhile, Bitcoin ($BTC) took a hit from $124K โก๏ธ $117K, but quickly stabilized around $119K. Options data shows a bearish skew in risk reversal, hinting at cautious sentiment. โ๏ธ
๐ Despite the macro pressure, QCP remains bullish:
๐ณ Payment integration keeps growing
๐ Companies are adding BTC to their balance sheets
๐ Speculative positions fuel liquidity
๐ข Rising corporate adoption supports the rally
๐ Their take? The uptrend that started in April is still alive and kicking โ and dips like this may just be opportunities in disguise. ๐
