This indicates to me that the market believes the Fed pivot is upon us. Rally Catalyst Scenario 2: Bitcoin is rallying because the market is frontrunning a resumption of Fed USD money printing. While I believe that a Fed pivot will occur, I do not think it will happen simply because CPI is trending lower. This is why I have a large allocation of physical gold and gold miners in my portfolio. When they do decide to pivot, the Fed will clearly communicate their move away from tight monetary policy ahead of time.