BTC pushed above $92K last night before fading across four consecutive red hourly candles. It lost nearly 3% and dropped back below $90K. The chop continues as markets await the upcoming Fed interest rate decision.
A 25bps hike is the expected outcome but as always it is Powell’s comments after the decision that will move markets. Investors remain cautious and uncertain ahead of Thursday’s presser which could offer clarity on 2026 expectations and the broader rate outlook.
Risk sentiment remains unclear. Bitcoin closed just 0.26% higher despite a 3% intraday range. Traditional indices moved less than 0.4%, gold fell only 0.2% and the DXY drifted just 0.11% lower. Markets are in limbo waiting for Powell to set the tone.
Strategy responds to FUD with a $1B BTC buy
After a week of concerns around its ability to continue raising capital, Strategy made another bold move. We mentioned that CEO Phong Le confirmed they raised $1.44 billion to cover dividend obligations. Overnight, it was revealed they purchased 10,624 BTC last week worth nearly $1 billion USD. This is the largest purchase since July and aims to reaffirm their strategy.
Stormrake Spotlight: Pax Gold (PAXG) ($4,203)
