Bitcoin Price Hovers Around $26.4K as ECB Announces Tenth Straight Rate Hike

The European Central Bank announced its 10th straight rate hike just minutes ago, lifting interest rates by a quarter. I believe that this is a record. What does this mean? Are we gonna see some, uh are we gonna see the stop now that we hit the 10th rate hike? So, ok, look, I I if you follow crypto markets, the European interest rates alone might not mean anything because most crypto is priced in, let's be honest, tether us DT which is a US dollar derivative if we can call it that. Um But what it does indicate is the potential or at least an excuse for the, for the federal reserve to potentially raise rates again. I mean, will they do it in September? The, the, the upcoming meeting, the odds are or at least the way the markets are predicting now, it's not gonna happen this meeting, but at the very least we've seen a couple of data points over the past day. Yes, it, today, in fact, we saw the PP I uh the wholesale index, it's up a lot higher than expected. Uh Y yesterday we saw the CP I number come in hotter than expected a little bit hotter than expected. But nonetheless, it tells us that inflation isn't under control the way perhaps the fed wants it to be and what that means is. Ok. Well, this idea that the fed will cut rates and make it easier for people to borrow money and leverage and do all those things to trade crypto and take on that risk. That might not happen right away. That's gonna be further out into the future if at all. So we might have a little bit more time where the FED is trying to keep the, the, the market led the liquidity if you will or, or the the amount of money in the in the sloshing around the market, uh trying to keep it down to lower inflation. Uh lots of other ways they can do it, by the way, besides raising rates, of course, is to sell off some of its portfolio. We haven't, you know, we've seen some movements in that obviously uh over, you know, planned movements uh for, for the past several months, be curious to see actually going forward if that then becomes a tool of the FED. I don't know yet. It doesn't seem like that anybody's been talking about that. But when it has trillions of dollars on the balance sheet, it also offers an opportunity for the Fed to take, take some other measures besides just raising rates to uh to dampen inflation.