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Fed and ECB Book Bets on Bitcoin, Downturn Continues

BTC

Fed book on Dollar is still bullish

thread

2. Although US dollar CPI dropped from 8.20% to 7.7%, but overall inflation is still way above 2% mark level.

3. Major global inflation rate is still on the high side. as at last week GBP CPI rate spiked from 10.1% to 11.1%, EUR from 4.8% to 5%

4. FTX saga have revealed that so much air token was printed [money] and that lead to price inflation on cryptos.

5. Joe Biden has hinted just recently that their is need for crypto regulation

6. Taking some data into perspectives, Bitcoin found a low on 3900 level due to Covid and spiked to 69k due to FED intervention to lower interest rate to 0.5%.

If playbook should repeat itself, I will not be surprise seeing BTC dropped back to 4k level.

This post is based on this twitter thread.

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