Alberto Poli @pino428: "Dear copiers and followers, welcome..."

Italy

Dear copiers and followers, welcome back. 𝙋𝙤𝙬𝙚𝙡𝙡 𝙎𝙝𝙖𝙠𝙚𝙨 𝙈𝙖𝙧𝙠𝙚𝙩𝙨 𝙛𝙧𝙤𝙢 𝙅𝙖𝙘𝙠𝙨𝙤𝙣 𝙃𝙤𝙡𝙚: 𝙊𝙫𝙚𝙧 $𝟭 𝙏𝙧𝙞𝙡𝙡𝙞𝙤𝙣 𝘼𝙙𝙙𝙚𝙙 𝙩𝙤 𝙒𝙖𝙡𝙡 𝙎𝙩𝙧𝙚𝙚𝙩 𝙞𝙣 𝙖 𝙎𝙞𝙣𝙜𝙡𝙚 𝘿𝙖𝙮 Jerome Powell’s speech at Jackson Hole marked a crucial turning point in the Federal Reserve’s narrative: for the first time, the focus is not solely on inflation but also on rising risks to employment. The Fed Chair emphasized that the “balance of risks” may require an adjustment in monetary policy, concretely opening the door to a possible rate cut as early as the September meeting. Markets immediately picked up on this shift: the dollar weakened, Treasuries staged a strong rally, and equity indexes rebounded sharply. The S&P 500 closed up 1.5%, the Nasdaq gained 1.6%, while the 2-year Treasury yield fell by 10 basis points to 3.70%. Investors are now pricing in a 75% probability of a 25-basis-point rate cut in September, and a 50% probability of another cut before year-end. A broader intervention, however, would only be likely in the event of significant labor market deterioration. Powell acknowledged that inflation remains subject to upside risks, especially in the event of new tariffs, though he described such impacts as more “one-off” than structural. ᴡᴀʀɴɪɴɢꜱ, however, are not lacking. According to Bank of America, the Fed risks a policy mistake if it starts cutting too early, in a context where the economy still shows resilience and core inflation has seen little improvement. Barclays, on the other hand, brought forward one of its rate-cut forecasts from 2026 to next month, while stressing that the threshold for more aggressive action remains high. ᴏᴘᴇʀᴀᴛɪᴏɴᴀʟʟʏ, the U.S. dollar could remain under pressure in the coming months, while equities and credit markets may continue to benefit from this new backdrop. 𝘾𝙧𝙮𝙥𝙩𝙤 𝙖𝙣𝙙 𝙀𝙩𝙝𝙚𝙧𝙚𝙪𝙢 If traditional markets reacted positively, the crypto space outright celebrated. - $BTC surged past $117,000, up more than 3%, while $ETH jumped 15%, erasing the previous week’s correction and hitting a new all-time high at $4,886—just shy of the psychological $5,000 threshold. The overall cryptocurrency market capitalization has climbed back above $4 trillion. 𝙒𝙝𝙮 𝙀𝙩𝙝𝙚𝙧𝙚𝙪𝙢 𝙄𝙨 𝙞𝙣 𝙩𝙝𝙚 𝙎𝙥𝙤𝙩𝙡𝙞𝙜𝙝𝙩 This milestone, missing for nearly four years, reignites hopes of a fresh price discovery phase. Two main narratives are driving the rally: - ɪɴꜱᴛɪᴛᴜᴛɪᴏɴᴀʟ ɪɴᴛᴇʀᴇꜱᴛ—spot ETFs and Treasury corporate now control nearly 10% of supply - ᴍᴀᴄʀᴏ ᴏᴜᴛʟᴏᴏᴋ, with expectations of falling borrowing costs potentially fueling a new bullish cycle. 𝙁𝙪𝙩𝙪𝙧𝙚 𝙎𝙘𝙚𝙣𝙖𝙧𝙞𝙤𝙨 𝙛𝙤𝙧 𝙀𝙩𝙝𝙚𝙧𝙚𝙪𝙢 Yesterday’s surge allowed ETH to briefly surpass its previous all-time high. Key levels to watch are (attached image) • ʙᴜʟʟɪꜱʜ ꜱᴄᴇɴᴀʀɪᴏ: A decisive breakout above the $4,886 all-time high and the $5,000 psychological barrier, opening the door to price discovery. Based on Fibonacci extensions of the prior bullish leg, targets could lie between $5,300 and $5,600. • ʙᴇᴀʀɪꜱʜ ꜱᴄᴇɴᴀʀɪᴏ: A potential reconsolidation in the $4,100 – $3,800 range, close to the 50-day moving average. The recent pullback provided an opportunity to add to our ETH position, which was rewarded by yesterday’s rally. Should the macro environment remain supportive, further corrections from current levels could offer new entry points—though Ethereum already represents a significant share of our portfolio. 𝘾𝙤𝙣𝙘𝙡𝙪𝙨𝙞𝙤𝙣 The Jackson Hole conference has shifted the tone of global markets. Powell signaled greater concern for employment than for inflation, paving the way for potential easing as early as September. Investors responded by favoring risk assets, with crypto and equities surging and the dollar under pressure. The next move will depend on the data in the coming weeks: if labor and inflation figures confirm the expected path, this autumn could bring the first real rate cut of the cycle. Thank you for your support. $SOL $SPX500 ᴅɪꜱᴄʟᴀɪᴍᴇʀ: All information contained herein should not be interpreted as investment advice, nor as a recommendation or invitation to buy or sell any financial instrument. Any reference to past or future performance should not be considered a reliable indicator of potential future results.

4 Mentioned

BTC

Bitcoin

ETH

Ethereum

SOL

Solana

SPX500

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