TL; DR
Full story
Picture this:
It’s the last bell of the last day of group 3.
Summer has started.
You have your Gameboy in your pocket, a Pokemon cartridge in the slot, and your mom just said your best friend (the one with the link cable) can stay over.
That, right there ☝️, is the definition of a ‘nothing can ruin my high’ moment.
And it feels like crypto is going through something similar right now.
Because the Federal Reserve just met and said:
“While inflation had declined over the past year, there has been a lack of further progress in recent months.”
With various members casting their votes “the willingness to tighten policy further should risks to inflation materialize in a way that would make such action appropriate.”
A few weeks ago this would have immediately panicked the market. But at the time of writing this, we have seen a slight decline (if you could call it that).
By the time you read this, things may have changed (much like the nature of crypto), but for now the market is showing its resilience.
Want to do some more math? Let’s do some more math:
Ethereum ETF Rumors + Bitcoin Breaks/Hovering Around $70,000 + April Losses Already Recovering = A “Nothing Can Break My High” Moment.