Two months after our Bitcoin July 2022 update, it's time to look at what has happened in the markets and what we can expect for this year's final quarter. 😉
, which significantly overshot to the upside. It laid to rest all the hopes that inflation is under control. Quite the opposite: month-on-month inflation is at 40-year highs:energy prices are slowly coming back down, but there's seemingly still too much liquidity in the systemWhile the energy contribution has fallen, inflation in service prices is picking up.
Daniel Cheung, who earlier this year predicted more downside was yet to come, was fairly restrained about the market nuke:In short:What's Next for Bitcoin?how this new data point will affect the Fed's decision-makingon the state of the market suggested a bear case that inflation keeps rising for some time. That seems to be materializing now. Although supply-side inflation is somewhat receding, demand-side inflation could prompt the Fed to take drastic measures.
. Even if the Fed goes with a 75 bps hike, we've seen that bulls in this market are walking on the proverbial eggshells.That's all well and good, but Ethereum is the crypto-asset that's taking all the spotlight now, isn't it?But obviously, all eyes are on the. The consensus trade has been longing spot ETH and shorting ETH in the futures market, leading to an. It'll be interesting to see how the markets will play out in the following days and weeks.
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