Interpretation of cryptocurrency market on February 23 2023

The minutes of the Federal Reserve meeting early this morning was in line with market forecasts, still tending to maintain multiple 0.25% rate hikes. The inflation target is unchanged. The actual impact has been small in the market and has fallen before this valuation. There was no mention of raising the inflation target to 2.8%, but this change will likely be announced in the follow-up. This is also the strongest of the relatively reasonable good things so far.

Last year the market was still speculating and trading around the recession expectations of the US economy. But now the recession sounds are almost gone. BKEX Institute made it very clear last year that a recession will not happen unless the Fed can do something about it. Better to screw up the economy than to lower inflation. Similar remarks were indeed mentioned in Powell's mouth, but this is an expectation management that cannot be taken seriously.

Now, the Fed is ruthless again and ultimately chose a relatively gentle way to handle the situation. BKEX Institute came to this conclusion in October of last year. In hindsight, even the last drop brought by FTX was made in advance. Even then, it was not known that something would happen to FTX.

The game is left for now to the subsequent CPI data. The characteristics of the market strength are still obvious. From the official start of the bull market is only one opportunity. This opportunity may also be an extensive positive line.