Fed's inflation optimism gets crushed by reality — short Bitcoin and stick to the facts
A Fed official tried to say there is hope for inflation cooling down, but the actual inflation numbers just hit a three-year high. Bitcoin completely collapsed on this news, proving the market doesn't believe the Fed's optimism.
Idea
Fed official Austan Goolsbee just tried to calm markets by claiming there is a 'glimmer of hope' in the latest inflation data. However, reality disagrees: US PCE inflation just hit a three-year high. The market immediately saw through the Fed's optimism, leading to a $1.3 trillion crypto rout and pushing Bitcoin to a 21-month low. When the central bank tries to talk the market down while hard economic data is actually surging, it creates a massive loss of confidence. The derivatives market is even signaling more pain ahead for crypto, making this a prime environment to bet against Bitcoin.