The Wolf Of Few Streets

2023-09-13 16:00:24 Dear friends, sorry, I've been a bit busy. Inflation came out slightly higher, against the backdrop of high fuel prices. This means the dollar will strengthen. There will be pressure on the crypto market, but overall, it's better to factor in another hike in the price. Going forward, the rate hike should become a secondary concern; after all, they can't keep raising it indefinitely...

FITCH: STILL EXPECT A MILD US RECESSION, THOUGH NOW ANTICIPATE THIS TO OCCUR IN 1H24

US Aug Consumer Prices +0.6%; Consensus +0.6%

US Aug CPI Ex-Food & Energy +0.3%; Consensus +0.2%

US Aug Consumer Prices Increase 3.7% From Year Earlier; Core CPI Up 4.3% Over Year

US Aug CPI Energy Prices +5.6%; Food Prices +0.2%

US Real Average Weekly Earnings -0.1% In Aug Open / Comment

2023-09-12 18:25:53 Crypto markets have been quite the spectacle lately. Every time a financial heavyweight submits an application for a spot Bitcoin ETF, like the recent one from Franklin Templeton, a $1.5 trillion asset manager, Bitcoin gets a boost. But then, SEC Chair Gary Gensler dampens the mood with remarks such as, 'Crypto is full of fraud, abuse, and misconduct.'

- Franklin Templeton, a $1.5 trillion asset manager, files for Spot Bitcoin ETF.
- SEC Chair Gary Gensler comments on crypto: "Full of fraud, abuse, and misconduct. Open / Comment

2023-09-12 08:40:21 And the 24,900 level held up. That's exactly where we bounced up from, and now we'll hover around this area until the CPI data comes out tomorrow. Open / Comment

2023-09-11 17:44:32 At the point. Now, ideally, it would be good to take a little break. I think 24,900 should hold. Open / Comment

2023-09-11 08:39:04 As expected, the previous week was boring. We precisely mirrored the movement I outlined on the last chart, clearing out high-leverage short positions and then resuming the downtrend. There's still no positive outlook on the horizon. Until the CPI data release on Wednesday, I believe we'll continue the movement I outlined last week and drop a bit further to 25200. Open / Comment

2023-09-04 16:07:11 Last week, Bitcoin soared in joy following the court decision on Grayscale, but the optimism was dampened by the SEC's decision to postpone the ETF review for another 45 days. After that, we descended to around 25,300 and have slightly recovered, currently sitting at around 25,800.

The crypto market is looking at a relatively empty week ahead. On Wednesday, there's the release of the ISM Non-manufacturing PMI data, but it's unlikely to have an impact. The first significant event from the economic calendar is the release of the CPI data next Wednesday.

Purely from a technical standpoint, one could expect a slight recovery, as the market indeed looks oversold. However, until the CPI data release, I believe it's risky for the bulls to stay for long. Thus, I anticipate a predominantly negative sentiment in the market this week, with occasional surges to around 26,500 which have a slim chance of settling at these levels. I believe the positive phase should be expected after September 13th, but we'll have a clearer picture a bit later. Open / Comment

2023-08-29 18:12:00 Twitter (X) Acquires Required License to Add Crypto Payments

Doge? Open / Comment

2023-08-29 17:24:17 Positive appeared. Up

GRAYSCALE WINS LAWSUIT AGAINST SEC Open / Comment

2023-08-25 17:55:02 In general, a negative speech. After his address, FED SWAPS PRICE IN ADDITIONAL RATE HIKE PREMIUM FOR NOVEMBER and FED SWAPS PRICE OUT FIRST 25BP RATE CUT TO JULY FROM JUNE and as a result, S&P 500, NASDAQ 100 TURN LOWER AFTER GIVING UP GAINS. So, we need to wait a bit, the market is going into turbulence and negativity for some time. Open / Comment

2023-08-25 08:30:16 Open / Comment