we have got the ppi, cpi data and fed is more likely focusing on job market than the inflation now
Which means rate cuts should happen on 17th that'll take place on fomc meeting and everyone is waiting for it as that's the only significant event left for market to choose a direction.
Stocks at All time highs, Gold at ATH while crypto?
It is such an insane time to witness stocks running up making highs everyday and at the same time gold surging to new highs is making boomers more nervous about the recession.
But crypto is still lacking that kind of reaction we've seen with stocks and gold.
Bitcoin is now back at $116k and everyone seems to be positioning and buying before the rate cuts.
Market Participants Believes we'll get rate cut
In the last couple of fomc meeting what I saw happening was people de-risked from the market and we went down
But this time is quite the opposite, people are positioning and going long into fomc
Everyone is sure about rate cuts so it might be like sell the news thing and I've been thinking about that a lot now.
Remember when sec approved BlackRock bitcoin etf? How market reacted on that news? It is the kind of reaction I'm expecting the moment fed announce rate cuts.
it'll be perfect while going into October
I'll be more comfortable holding a long position and buying blindly in October than doing that in September because this month have been haunting me from past some years now
A dump after fomc leading to the ultimate pump in October is going to be a perfect scenario for altcoins and overall market.
I maybe early but not wrong here and we just gonna have to wait couple of days to find out truth.
Till then enjoy the ride while it lasts, already holding onto some good coins going to fomc.
Did fumbled ena, pump trades by selling early but with spot holding it's gonna be all good.
Coins I'll be watching for next Rally
There's a lot of trades going on that are rewarding people, from hype to pump and ena all in same buyback narrative leading the market from front
But there's more less crowded trade and that's ONDO in RWA as BlackRock and other institution are working on tokenization.
Still down bad on sei but even founders are frustrated about price and I can hear that from those tweets they're making on Twitter, really trying to scream for pump with those tweets hope so it'll work out
Also holding fartcoin cause tradfi is like flooding crypto and there's only one hot fartcoin that'll rise.
That's all, working on bags will hopefully pay one day for now I wonder what are you thinking about market? And how you've positioned for the fomc? And rest of the month? Do share your thoughts in the comments.
fin.