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🚨 $BTC The ETF–price divergence may be more important than the price itself. After the Fed resumed rate hikes in September, inflation expectations climbed from 4.0% to 4.6%, while expectations for another hike in October briefly exceeded 70%. Meanwhile, the 30-year US Treasury yield broke above 5.5%. Normally, that kind of macro backdrop should put pressure on risk assets. $BTC did pull back from around 87,000, briefly falling below 84,000.#DailyOrbit