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Mike McGlone's Warning: Bitcoin Rally Might Provoke Fed Action 🚀
After going quiet for a while, Mike McGlone is back. The senior commodity strategist at Bitcoin Intelligence has some thoughts. Bitcoin just took a hit. It fell from $119,111 to about $111,980. McGlone thinks we might see more drops.
Something strange is happening. Stocks up. Treasury yields climbing. Bitcoin soaring. Gold rising too. McGlone calls this mix "unsustainable" 📉 The market was getting too comfortable. Now volatility returns after a sleepy summer.
Here's what bothers him. Bitcoin keeps going up? Other risk assets too? This might spark inflation. Treasury yields could climb higher. Then what? The Fed might tighten things. Not exactly what Trump wants. He's pushing for easier money policies 🏛️
Michael Saylor isn't worried, it seems. Strategy just bought more Bitcoin. 430 BTC, around $51.4 million worth. They used various financial tools to do it - MSTR, STRC, STRK, STRF, STRD. Strategy now sits on 629,376 BTC. Kind of impressive. That's over $70 billion at today's prices 🌕
Crypto folks are watching closely. What's Bitcoin's next move? How might central banks react if digital assets keep showing strength? Not entirely clear. The dance between monetary policy and crypto performance remains fascinating. Worth keeping an eye on 🔥