Fed comments and BTC correlation
Interesting to hear the Fed narrative shifting ever so slightly. Powell's comments yesterday, subtle as they were, still suggest a 'higher for longer' stance is very much on the table, even with a cooling jobs market. Historically, this kind of hawkish undertone has been a headwind for risk assets, and while $BTC has tried to decouple at times, it often finds itself still correlated to broader liquidity conditions. I'm watching the next CPI print closely; another stubborn number could put pressure on the current range, which means for now, my short-term directional bias remains pretty neutral, favoring consolidation or a slight pullback rather than a strong push above recent highs. Not saying it can't run, just the macro winds aren't exactly at its back.
I'm not so sure a 'higher for longer' stance is definitively bad for BTC if the cooling jobs market narrative gains traction. Could it even be seen as a safer, scarcer asset in that scenario?