Stormrake - Insights #FOMC MinutesStormrake - Insights #FOMC Minuteshttps://www.stormrake.com/blogs/tag/fomc-minutesSat, 09 May 2026 19:37:07 +1000http://zoho.com/sites/<![CDATA[US Department of Justice Cleared to Sell $6.5 Billion in Seized Bitcoin]]>https://www.stormrake.com/blogs/post/us-department-of-justice-cleared-to-sell-6.5-billion-in-seized-bitcoin
To receive the Morning Note in your inbox, subscribe here: https://stormrake.substack.com/
Yesterday, the United States Department of Justice (DOJ) announced its clearance to sell 69,370 Bitcoin seized from the Silk Road darknet marketplace. This massive haul is currently valued at approximately $6.5 billion USD. Although the announcement was made yesterday, the federal judge's decision to approve the sale occurred on December 30th. The DOJ justified its move by pointing to Bitcoin's notorious price volatility.

This rush to liquidate the seized assets is hardly a coincidence. With President-elect Donald Trump set to take office in less than ten days, his administration has made it clear that they will not sell the seized Bitcoin. The sudden decision to proceed now by the current administration could be interpreted as a parting shot aimed at undermining Trump’s pro-Bitcoin stance.

The abrupt news has largely explained Bitcoin's latest correction, even as macroeconomic data showed stronger-than-expected employment numbers. While the JOLTS data released was solid, it’s historically insufficient to trigger the kind of sharp 10% decline that we saw in Bitcoin.

Over the last 24 hours, Bitcoin has experienced a steady sell-off, dropping 2.6% and reaching a low of $91.1k. The broader market has followed suit, with altcoins bearing the brunt of the losses. Interestingly, Bitcoin dominance has climbed back to 58%, suggesting that if markets continue to decline, this metric could rise further, potentially exceeding the 60% mark as altcoins bleed further.

This correction, fueled by FUD (fear, uncertainty, and doubt), is nothing new in crypto markets. However, the selling pressure is likely to be short-lived given the limited window for action. Once Trump assumes office, it’s probable that any unsold Bitcoin will remain untouched, effectively halting the sell-off. Until then, the market is bracing for potential volatility as the DOJ looks to offload its holdings.

Stormrake Spotlight: Hyperliquid (HYPE) ($20.70)

HYPE, like the rest of the market, has been hit hard in this downturn. Overnight, the token dropped to a low of $18.3 but has since bounced back to its current price of $20.70. Despite the pullback, Hyperliquid remains one of the most anticipated and heavily supported projects of 2025. Once market conditions improve, HYPE is expected to lead the recovery and reaffirm its position as a top-performing asset.

BTC/USD Key Levels and Price Action:

Bitcoin continues its decline and is trading just above the key support level at $92.5k. The bearish structure and momentum remain intact, as multiple attempts at a reversal have been rejected by the 21-EMA, which is acting as a strong resistance. If BTC finds support at $92.5k, we could see a bottom forming. However, if bearish momentum persists, Bitcoin could break below $90k in the near term.

BTC Total ETF Flows for 9 Jan: $ N/A (data not available)

(ETF flow data is sourced from https://farside.co.uk/btc/ and reflects figures at the time of writing.)

ETH/USD Key Levels and Price Action:

Ethereum continues to mirror Bitcoin’s price action, maintaining a bearish structure with downward momentum. ETH is currently holding above the key support level at $3,200 but remains under pressure. Similar to BTC, all recent rally attempts have been rejected at the 21-EMA. If ETH fails to hold $3,200, further downside could be in play.

ETH Total ETF Flows for 9 Jan: $ N/A (data not available)

(ETF flow data is sourced from https://farside.co.uk/eth/ and reflects figures at the time of writing.)
To receive the Morning Note in your inbox, subscribe here: https://stormrake.substack.com/

*All prices are denominated in USD unless stated otherwise*

Written by Alexandar Artis

Create a brokerage account today

Get Started

No Advice Warning 

The information in this newsletter is general only. It should not be taken as constituting professional advice from the author - Stormrake PTY LTD.
Stormrake is not a financial adviser and does not provide financial product advice. You should consider seeking independent legal, financial, taxation or other advice to check how the information relates to your unique circumstances. Stormrake is not liable for any loss caused, whether due to negligence or otherwise arising from the use of, or reliance on, the information provided directly or indirectly, by this newsletter.
 

Disclaimer 

All statements made in this newsletter are made in good faith and we believe they are accurate and reliable. Stormrake does not give any warranty as to the accuracy, reliability or completeness of information that is contained here, except insofar as any liability under statute cannot be excluded. Stormrake, its directors, employees and their representatives do not accept any liability for any error or omission in this newsletter or for any resulting loss or damage suffered by the recipient or any other person. Unless otherwise specified, copyright of information provided in this newsletter is owned by Stormrake. You may not alter or modify this information in any way, including the removal of this copyright notice.

Copyright © 2024 Stormrake Pty Ltd, All rights reserved
]]>Tue, 14 Jan 2025 14:02:11 +1100<![CDATA[Bitcoin Finds Support at $92.5k Amid Bearish Pressure]]>https://www.stormrake.com/blogs/post/bitcoin-finds-support-at-92.5k-amid-bearish-pressure
To receive the Morning Note in your inbox, subscribe here: https://stormrake.substack.com/
We’ve seen further bearish price action across the crypto market overnight, with Bitcoin leading the decline and dragging the majority of altcoins down with it. Bitcoin hit a low of $92.5k—a key support level that has held firm over the past month. It has since bounced 2.75%, now trading at $95k. Despite the clear break in bullish structure, the $92.5k level remains crucial. If this support holds, we could see Bitcoin make another attempt at $100k. However, if another leg down breaches this level, Bitcoin could drop below $90k for the first time since 18 November.

The anticipated FOMC minutes, released this morning, align closely with market dynamics observed yesterday after stronger-than-expected U.S. economic data. November's JOLTS report showed job openings rising to 8.1 million, underscoring a resilient labour market, while the ISM Services Index climbed to 54.1, signalling robust economic growth. This reinforced the narrative of a stronger-than-expected U.S. economy, driving risk-off sentiment and speculation about a slower pace of Federal Reserve rate cuts in 2025.

Yesterday’s data set the stage for today’s FOMC minutes, which confirm the Fed’s cautious stance. Participants emphasised the importance of balancing inflation risks against economic momentum. A resilient labour market, low unemployment at 4.2%, and inflation at 2.8% support the case for gradual policy easing, while maintaining flexibility. This backdrop has bolstered U.S. bonds, with the 10-year Treasury yield rising to 4.69%, and strengthened the U.S. dollar to a six-month high, creating additional pressure on risk assets like equities and Bitcoin.

The FOMC minutes’ acknowledgment of persistent inflation and the need for vigilance mirrors Jerome Powell’s hawkish tone at the last press conference. Markets hoping for rapid monetary easing may need to adjust expectations, though any signals of dovish flexibility in future meetings could provide relief for risk assets later this year, particularly if inflation moderates or labour market conditions soften.

Looking ahead, we are just 11 days away from Donald Trump taking the oath as the 47th President of the United States. This event is widely anticipated to bring bullish momentum to crypto, and we could see positive price action in the run-up. If Bitcoin holds the key $92.5k support level, a potential “Trump rally” could push prices back above $100k, possibly retesting all-time highs.

Stormrake Spotlight: Hyperliquid (HYPE) ($23.31)

HYPE has demonstrated remarkable resilience over the past 24 hours, outperforming both Bitcoin and most altcoins. While Bitcoin dropped 2% and many altcoins fell over 5%, HYPE declined by just 1.2%. Overnight, HYPE reached a low of $20 before rebounding sharply, climbing 15% within five hours. This kind of strength and recovery during bearish market conditions is precisely what we expect from a strong altcoin, showcasing its robustness and potential.

BTC/USD Key Levels and Price Action:

As highlighted, Bitcoin hit the crucial $92.5k level and bounced nearly 3%. It is now trading just below the next key level at $95.7k but may face resistance before reaching it, given the current positioning of the 21 EMA. Although Bitcoin remains in a bearish structure with negative momentum, a flip of the 21 EMA and reclaiming the $95.7k level could signal the first step towards a reversal.

BTC Total ETF Flows for 8 Jan: $ - 20.2 million

(ETF flow data is sourced from https://farside.co.uk/btc/ and reflects figures at the time of writing.)

ETH/USD Key Levels and Price Action:

Ethereum is mirroring Bitcoin with bearish price action, structure, and momentum. ETH has fallen below all key moving averages and was unable to reclaim the $3,370 level on its first attempt. However, it has bounced nearly 4% from its low of $3,200. If Ethereum manages to close above the $3,370 level and its 21 EMA, we could see early signs of a bullish reversal.

ETH Total ETF Flows for 8 Jan: $ -11.7 million

(ETF flow data is sourced from https://farside.co.uk/eth/ and reflects figures at the time of writing.)
To receive the Morning Note in your inbox, subscribe here: https://stormrake.substack.com/

*All prices are denominated in USD unless stated otherwise*

Written by Alexandar Artis

Create a brokerage account today

Get Started

No Advice Warning 

The information in this newsletter is general only. It should not be taken as constituting professional advice from the author - Stormrake PTY LTD.
Stormrake is not a financial adviser and does not provide financial product advice. You should consider seeking independent legal, financial, taxation or other advice to check how the information relates to your unique circumstances. Stormrake is not liable for any loss caused, whether due to negligence or otherwise arising from the use of, or reliance on, the information provided directly or indirectly, by this newsletter.
 

Disclaimer 

All statements made in this newsletter are made in good faith and we believe they are accurate and reliable. Stormrake does not give any warranty as to the accuracy, reliability or completeness of information that is contained here, except insofar as any liability under statute cannot be excluded. Stormrake, its directors, employees and their representatives do not accept any liability for any error or omission in this newsletter or for any resulting loss or damage suffered by the recipient or any other person. Unless otherwise specified, copyright of information provided in this newsletter is owned by Stormrake. You may not alter or modify this information in any way, including the removal of this copyright notice.

Copyright © 2024 Stormrake Pty Ltd, All rights reserved
]]>Thu, 09 Jan 2025 14:30:03 +1100