How should we explain why the Clear Act didn’t pass, yet after the Federal Reserve and the Bank of Japan raised rates, BTC, ETH, and altcoins still surged? What’s the underlying logic?
The underlying logic is “market repricing.”
The market has priced in 3–4 rate hikes. After the hikes were announced,
the expectation was only for one more hike, so the market corrected and rebounded. Once a trend move begins, it usually won’t easily reverse. And considering how strong BTC and ETH’s order books/market structure have been, it’s even less likely to flip.
As everyone knows, ETH is the king of altcoins. In this round of the rally, the background strength is strong: ETH ＞ BTC—strong sideways consolidation, using sideways movement instead of a drop to trade time for space. Then the altcoin juniors catch up and catch a pullback.
#以太坊突破2700美元
#Bank of Japan hikes rates to a 31-year high
The underlying logic is “market repricing.”
The market has priced in 3–4 rate hikes. After the hikes were announced,
the expectation was only for one more hike, so the market corrected and rebounded. Once a trend move begins, it usually won’t easily reverse. And considering how strong BTC and ETH’s order books/market structure have been, it’s even less likely to flip.
As everyone knows, ETH is the king of altcoins. In this round of the rally, the background strength is strong: ETH ＞ BTC—strong sideways consolidation, using sideways movement instead of a drop to trade time for space. Then the altcoin juniors catch up and catch a pullback.
#以太坊突破2700美元
#Bank of Japan hikes rates to a 31-year high