Bitcoin’s been kinda stuck grinding, still can’t smash past that juicy $80,000 mark after days of trying and the options squad looks pretty unbothered about any wild volatility blowup even tho big econ stuff drops in the next ten days. 🖤
Pausing for the Tea 🕸️
Qcp Capital’s latest scoop hints that BTC’s 18-day at-the-money implied volatility is just chilling at 37%-38% despite the US inflation report and that FOMC meeting sneaking up. The analysts over there reckon this volatility squeeze shows everyone waiting on more info instead of betting hard on direction. That vibe got backed up last week when the August jobs report dropped hotter than expected with the US economy adding 162,000 jobs versus the predicted 55,000. Unemployment stayed at 4.1% and average hourly earnings popped up 0.3% MoM. It basically screamed the US economy’s still tough as nails so now all eyes are on inflation vibes and what the Fed pulls next. Markets are pricing in a 58% shot at a 25-basis-point rate hike during the September 15-16 meetup. Big players turned extra hawkish too especially after Kevin Warsh’s Jackson Hole speech. UBS now calls for the central bank to hike in September plus December after thinking zero moves earlier. 🌙🦇
CPI Might Shake Things Up 👻
Bitcoin shrugged off a quick dip of a few grand and stayed resilient pushing over $82,000 before settling just under $80,000. The real test hits with August inflation data this loaded econ week where producer numbers drop Thursday and then the big CPI on Friday. A hotter print could hand the Fed more room to hike rates push yields up and squeeze risk stuff like bitcoin even harder amid climbing oil prices. Brent crude touched near $100 per barrel on Monday with markets already leaning toward more rate moves from major banks. But a softer read might ease the pressure and give BTC that sweet catalyst to finally break $82,000 tho QCP thinks no massive breakout either way. 💀🕷️🩸🐈⬛🔮
Just another echo from the void by iconofsin.eth 💖
