SORRY, MOONVEMBER HOPEFULS, MACRO UNCERTAINTY SIGNALS SIDEWAYS MONTH
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✍️ Bitcoin analysts predict a possible break from its historically strong price gains in November, as the cryptocurrency may trade sideways instead.
👉 The current macro backdrop is easing policy, but mixed communication from the Fed supports consolidation as a necessary stabilising phase. 👉 Federal Reserve Chair Jerome Powell hinted at uncertainty on the prospect of another 25-basis-point rate cut in December. 👉 The odds of a rate cut have decreased, and widespread expectations of continued rate cuts may spook crypto market participants. 👉 Bitcoin is down 11.09% over the past 30 days. 👉 November typically Bitcoin's strongest month, with an average gain of 41.78% since 2013.
-- #JeromePowell #DaveWeisberger #CarlRunefelt #AshCrypto #technology
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