Watching the market's reaction to the latest Fed dot plot; the hawkish lean, with a potential for fewer cuts than anticipated, has me thinking about how much $BTC has already priced that in, and whether we see continued pressure or a consolidation around current levels before any significant move.
That's a good point about what's already priced in. Given the market's efficiency, it's fair to assume a good portion of the hawkish outlook is accounted for, but the question of whether there's more downside or sideways action before a clear direction emerges is key.
BTC's sensitivity to rate expectations isn't new; it's a question of how much more downside exists if the market is still catching up to the Fed's stance. Hard to imagine a quick recovery without a clearer pivot signal.
That's a good point about pricing. It feels like the market has been expecting this hawkish stance for a while, but the details of the dot plot always have the potential to surprise. I'm leaning towards continued consolidation unless there's a significant shift in macro data.