Bitcoin Waits for No One!

This Week, It Wants to Act as Store of Value. Next week is up for grabs

This appears to be the beginning of a larger move as Bitcoin has now cleared above its 200-week moving average for the first time since August 2022.

*Not Investment advice*

Meanwhile, Ethereum (ETH, Tech/Adoption Grade “B”) is also trading at its highest levels of the year and is attempting to close above $1,700 today.My best guess, as an armchair crypto hobbyist, as to why ETH has been lagging BTC over the past week is that we have seen a lot of crypto newcomers enter the market in the past seven days, as shown by new addresses created on the Bitcoin blockchain.

Generally, new market entrants tend to start with Bitcoin first before moving on and exploring the rest of the crypto ecosystem.

So, Ethereum will have its turn soon enough, I wager.

So will the FED “pivot” or not?

Did you blink?

In fact, the Fed has already reversed course on its balance sheet and wiped out the last four months of QT. The only thing stopping many from calling this a full Fed pivot is the interest rates.

Will the FED raise rates next week or will we see the start of the pivot? We will have to wait and find out.

One thing is for sure, though: Bitcoin isn’t waiting for anybody.

*Nothing here is investment advice. Entertainment purposes only*