So crypto market is going insane because of global central banks cutting rates!

[erni]

I found kraken to put their trading on hold a few times the last hour and was wondering what is going on!

Then I read this
https://www.coindesk.com/markets/20...ths-as-markets-anticipate-a-summer-of-easing/
and then I watched how bitcoin and the rest of the family has increased in worth.

Is it now we see BTC going 90K and ETH 8K ?

 

[Wellington]

Nope - central banks cut rates after something breaks - at the same period there‌ is high demand for liquidating assets - hence gold usually shits itself around there.

What you are seeing is the recovery from the April liquidity airpocket

 

[incognitbro]

Regarding the title I think its just a narrative, people are just bullish in general.‌

I don't feel super optimistic about hanging around the old ATH this long, and ETHBTC‍ has been doing terribly. Not betting on 8K eth anytime soon but if we break⁠ up to the upside 90K could happen.

 

[Rotor]

Yes reading BTC⁤ and ETH charts is becoming harder and harder. For some other alts it's a no⁣ brainer that there's a lot of upside ahead. And since so far everything in crypto⁢ still moves in locksteps, I guess BTC and ETH will still go up (or sideways︀ in the worst case scenario).

Don't worry Jay Jay Powell and Christine Lagarde have your︁ back.

 

[incognitbro]

Indeed, felt like the moves in⁣ 2021 made alot more sense so have largely quit actively trading.

 

[JohnLocke]

Looks like it is all back again this morning, nothing to worry about.

 

[maxmoney]

It's rising slowly