Did the Fed move Bitcoin?
At a glance, it seems that this theory may even hold water. The time of the announcement can be seen in purple here.
As we know, correlation does not necessarily mean causation, but what we can say is that in the 30 minutes following the announcement Bitcoin experienced more volatility than gold, the Dow Jones, and the US Dollar combined.
Of course, traditional markets weren’t at all surprised by the fact that the Fed is being cautious, nor that their caution, if left unchecked, could lead to risks down the road. It’s just that the narrative that Bitcoin is rising on insecurity surrounding the Fed could be particularly compelling to some.
Updates: Still looking to pass the torch off soon enough. Very sorry for the delay. We’re still waiting for the baby and praying. Exhausted!
Wishing you an amazing day.
Senior Market Analyst
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