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The below is an excerpt from a recent edition of Bitcoin Magazine Pro, Bitcoin Magazine’s premium markets newsletter. To be among the first to receive these insights and other on-chain bitcoin market analysis straight to your inbox, subscribe now.

Maximum Pain: Still Ahead Of Us

The word of the day is pain. That was Federal Reserve Chairman Jerome Powell’s favorite go-to in the September Federal Open Market Committee meeting. One simple economic release and subsequent press conference sent the market into a period of mild panic with rates soaring higher, volatility heating up and equities selling off with bitcoin following. The S&P 500 Index lost a critical support level of 3850, bitcoin was sent back to local lows of $18,100 and the 2-year Treasury went over 4.1%.

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