Bitcoin yesterday, after the inflation data, suffered a flash dump to touch 18,000, but was reabsorbed within hours.
All this was always in strong correlation with the Nasdaq, which also opened very poorly but closed in the green.
Also certainly injecting optimism into the market were the words of Biden, who stated how inflation this quarter, if annualized, would be 2 percent (https://www.whitehouse.gov/briefing-room/statements-releases/2022/10/13/statement-by-president-joe-biden-on-the-september-consumer-price-index-report/)
However, the demand reaction shows how the worst may have already been priced in (not least because the odds of a rate hike, despite Biden, remain for a +75 in both November and December).
The fact that the market prices such expectations in this way is a sign of resilience.
Now we need to see how we perform over the next few days: if we break above 20k we will have further confirmation of this, and a first small bottom construct on the short end.
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