13 May 2024

Heightened macro focus

Macro factors such as inflation now play a bigger role, which means traders must pay close attention to the publication of economic indicators.
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Heightened macro focus
Status quo roars in the market as BTC price action reigns stagnant and directionless, trailing in the lower $60,000s throughout the past week while trading volumes decline to 96-day lows. In lack of narratives and momentum, heightened attention is directed towards tomorrow’s CPI release. Any surprise is likely to alter interest rate trajectory expectations and, in turn, impact BTC and other risk-assets alike. 
CME traders added long exposure on Monday
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