The recent pumps are still institutions trying to fight the FED.

There still seems to be loads of institutions that are attempting to short the market, and a mixture of retail not taking Jerome Powell seriously. And of course it didn't take long for news articles to pop up claiming traders are gauging the state of the market or that bullishness is returning to crypto.

It is my opinion that this is one big ass bear trap and no matter what they refer to it as (santa rally, lmao?) it won't end well for retailer gamblers looking to play with the big boys shorting Btc. Powell will announce later today what the next rate hike will be. Many are already talking about a ' dovish ' tone.

People often say don't try to catch a falling knife but at this stage it seems like red hot burning knives and the institutions and media love playing with peoples emotions, because if you were certain you wouldn't be easy to manipulate.

Macro trend still looks rocky, rate hikes will most likely drag crypto to newer lows. Even if the rate hikes go to 0.50 or 0.25 they are still being raised before a pause. And that pause won't come in the first quarter of 2023, fed has already decided this and their recent 0.75 increase x4 is the quickest in modern history, so prepare yourselves folks, Powell is not screwing around.