Why did BTC move 4% today?
Could be because core CPI came in flat month over month vs +0.2% expected, with core year over year at 3.5% vs 3.8%. 2 year yields fell 10bps, the biggest move in 10 months.
Softer inflation data pulls forward rate cut expectations, and risk assets are repricing accordingly.
Kraken Institutional stays on top of the global macro environment shaping crypto markets đđ