, markets remain convinced that the Fed will resume rate hikes regardless of already positive data prints showing inflation retreating faster than expected.Fed target rate probabilities chart. Source: CME Group
As noted by contributing analyst SignalQuant, unspent transaction outputs reflecting large tranches of coins are increasing this year — in classic bull market style. “From that view, as ‘the whale group’ increased with its price back in 2019, they are slowly increasing with its price in 2023 too,” he wrote in one of CryptoQuant’s“If their indicators gradually increase, then we can be more confident that 1)its price at the end of 2022 is a long-term bottom, and 2) that its price will continue to rise.”, along with other larger investor cohort exposure, at current prices.
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