BTC local low can come anytime from now into day of FOMC. Hike is mostly priced in, but can get closer to 90% odds. All of the banks now making the hike their base case (useless analysts). I think Warsh capitulates into a very reluctant insurance hike for credibility purposes. He could stand firm on the thinking that hiking into a supply shock isn’t sensible policy, and hiking doesn’t actually address any of the inflationary pressures if you look at the various components, but I think the pressure will be too much for him in the end. Ofc if he did hold it would be a bazooka to the upside, but at this stage seems like bullish copium. Should act as a strong pivot for BTC and then we see how much demand there is for a move higher.