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MACRO STACK IS LIVE
→ FOMC held rates
→ Powell gave no hint of cuts
→ GDP came in hot at 3.0% vs 2.4% expected
This reduces the chances of near-term easing
$BTC and $ETH traders should watch out:
→ Longs are crowded
→ Funding rates elevated
→ Derivatives showing signs of stress
One wrong move from the Fed, and we could see sharp downside