I looked at the charts this morning and honestly, what's happening with cryptocurrencies right now is interesting. Bitcoin hit nearly $75,000 earlier this week, but it dropped quite sharply below $74,400. Apparently, this pump mainly came from derivative positions being liquidated, not really from new genuine demand. Anyway, it feels a bit artificial.

What’s cool, though, is that almost all altcoins are in the green over 7 days. Ether is up by +9.3%, XRP is up 2.74%, Dogecoin also with +2.75%, and even BNB is making progress. This is the broadest and strongest rally we've seen in a while, clearly.

The real story behind this is that spot Bitcoin ETFs are finally attracting real flows — like $767 million last week. And look at the gap with gold: Bitcoin has outperformed by 13.2% since early March. This revives the “digital gold” narrative we thought was dead in February. Correlations are also shifting.

But honestly, all of this depends on what the Fed will say on Wednesday. They’ll probably keep rates steady, but it’s the dot plot and Powell’s conference that will really decide the direction until the end of March. Oil at $100, a weakening labor market... the Fed is really caught between two opposing mandates. We’ll see.