A weekly report on some of the biggest moves in crypto markets, with commentary from industry experts.
Crypto trading firm QCP Capital wrote in its market report on Thursday that while the inflation trend has no doubt peaked and is headed lower, it will be a long and winding road back from month-to-month as the market pendulum over-swings on either side.
QCP went on to say that market pricing for a 100 basis point hike next week is overdone on the bearish side, with the Fed likely to stick to 75 basis points. Indeed, Fed chair Powell noted during his Jackson Hole address in August that the lower inflation reading in July was welcome, but a single month's improvement was short of what the FOMC needed to see. He went on to add that the Fed's decision in September will depend on the"totality of the incoming data and the evolving outlook."The Block that macro factors will continue to affect the market in the short run, as evidenced by Tuesday's slide following the U.S. CPI release.
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