US equities surged again after the CPI release, with all major indices — S&P 500, Nasdaq, and Dow Jones — notching fresh all-time highs.
The US dollar has been struggling with rate markets are now progressively betting ofn a 50 bps FOMC cut, though expectations remain fluid.
Indeed, the immediate post-CPI reactions took some of that pricing back, before re-upping the odds just above 10%.
Players will now expect hints from journalists such as Wall Street Journal’s Timiraos, the usual suspect for pre-FOMC FED insights.
However, cryptocurrencies are lagging this risk-on rally.
While Bitcoin rebounded since its past week $108,000 lows, Ethereum is still trying to regain upside momentum.
The broader altcoin and crypto complex has yet to reflect the same strength seen in equities and other risk assets since the morning session.
With traders now turning to next week’s FOMC decision, crypto markets await a progressing technical outlook.
Let’s peak at the current Crypto Market picture before diving in a multi-timeframe Ethereum analysis.
