#FOMCMeetingMinutesComingUp

The market is focused on one thing today: Fed minutes.
Actually, everyone is not waiting for the interest rate decision, but for the lines in between — because it is always the words that change the direction.

I look at three things as I approach:

• Liquidity tone: In the last meeting, there was a message of "we are patient." If they bring inflation concerns a bit more to the forefront this time, market risk appetite could quickly decline.
• Balance sheet reduction (QT) emphasis: Recently, there has been an implication that QT could be gradually slowed down. If the text emphasizes this, a micro relief area for risky assets may be created.
• Economic activity comments: Employment, consumption, and credit conditions… If the Fed is tightening this trio, a "cautious" atmosphere is maintained in the short term.

Why is the crypto side so sensitive?
Because big players like to price the macro tone.
BTC is hovering around 107K, ETH is around 3.65K. During such times, even a small word can increase volatility.

What am I doing?
I don't take unnecessary risks before the minutes. After seeing the text, listening to the price behavior feels healthier than making predictions.

Still, my overall feeling is this:
As long as the Fed's tone does not become overly aggressive, the likelihood of crypto holding in the current range is strong. No matter which way the macro winds blow, crypto will adjust its position accordingly.

This is my own macro reading routine — it is not investment advice.