Crypto nonetheless joined traditional markets in rejecting the idea that U.S. macro policy might stay more restrictive for longer in order to tame inflation., there was practically no consensus over the Federal Reserve raising interest rates again later in the month. On the contrary, odds of a rate hike pause stood at 97% at the time of writing.The disconnect between the data and market sentiment was underlined by a decision by the European Central Bank to hike rates by 0.25% on the day.
“This is their 10th consecutive rate hike putting rates at 4.5%, their highest since 2001,” financial commentary resource The Kobeissi Letter wrote in part of a“The ECB also cut all their growth forecasts through 2025. The fight against inflation is far from over.” Kobeissi added that although the ECB had signalled that the latest hike could be the last in the current cycle, futures markets were still 30% sure of continuation.BTC price predictions pass $27,000
Eyeing the state of play on Bitcoin, market participants were hopeful that another leg up would take BTC/USD to $27,000.It's key to break this level to leave this post grayscale dump range and attempt at filling the inefficiency up to ~$27K.
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