Trump has been making frequent moves regarding Fed personnel lately, hinting that he’ll announce a new Chair early next year—judging by the current momentum, Hassett is almost a sure bet. If he really takes the position, a low-interest and loose monetary policy is likely in the cards. However, the problem is that inflation hasn’t cooled off yet, and the labor market is still running hot, so how he balances these factors will be interesting to watch. Adding more fuel to the fire, there’s talk coming from the Pentagon about taking action against Venezuelan drug cartels. With this kind of military expansion rumor, risk-off sentiment is bound to rise.

Back to the crypto space. BTC made a push to $93K a couple of days ago, but couldn’t hold and slipped back down. On the technical side, this move looks a lot like a fake breakout. Now the key is whether it can find footing in the $90-91K range—if not, we might see another dip.

ETF flows are pretty clear: BTC brought in $58.5 million, while ETH saw an outflow of $9.9 million. It’s obvious—the money is flocking to Bitcoin, and altcoins just aren’t attractive right now. This concentration of funds shows the market is still in a conservative mode; full-on FOMO hasn’t arrived yet.