Eventually markets stop going down on bad news

Inflation data came in above expectations today and as expected that was bad news for crypto and stocks.

At least at first...

After a knee jerk reaction down, markets have recovered all the losses...

Check it out:

(Source: https://bittrex.com/trade/btc-usd)

I thought high inflation was bad because it meant more rate hikes?!

Yep, it does...

So, why are we going up now?

There is something called bad news fatigue, if there isn't, I just made it up right now...

Basically it just means that some point all the bad news is priced in and the market runs out of sellers.

Currently we are likely near that point, markets have sold off significantly in recent weeks and months (more so stocks than bitcoin) and now more bad news doesn't push em down.

We now have a window where there is no more inflation data and no fed meetings for a month or so, my guess is we bounce during this window.

Eventually we may go lower still, but we have a nice window right now.