Bitcoin update

Brace for a lot lower

There is a general capitulation going on with risk assets at the moment, selling initiated by a much more hawkish Fed as of Wednesday. The Fed has essentially cut again into great economic data, good NFPs, relatively strong (seemingly) jobless data.

However it was Jerome Powells words that they raised their 2025 inflation expectations. This stemming no doubt from Trump mania, tariff talk and stubborn Q4 2024 CPIs and PPIs.

Getting down to it, I see Bitcoin needs updating on chart guidance. It will trade back to some of the key levels here in the chart before buyers will be interested in getting in again.

Here we can see that the support that did come in on the 100k marker failed to hold in the face of the general capitulation that started in US equities. Bond yields are also rallying hard.