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🚨 Macro outlook just turned significantly more hawkish. Goldman Sachs has reportedly removed all expectations for Fed rate cuts in 2026. The bank now sees the next two potential cuts arriving in June and December of 2027, while also increasing the probability of a future rate hike from 10% to 20%. What changed? The latest labor market data came in much stronger than anticipated: 📊 May payrolls: 172K vs 85K expected 📊 April payrolls revised higher to 179K 📊 Unemployment steady at 4.3% 📊 Wage growth remained at 3.4% Instead of showing signs of cooling, the economy continues to display resilience. Goldman's view is that tariffs, elevated energy prices, and accelerating AI-related demand could keep core inflation above 3% throughout the year. Confidence in future rate cuts has weakened accordingly. Other major institutions are moving in a similar direction. JPMorgan now expects rates to remain unchanged through 2026 and sees any potential tightening discussion pushed into 2027. Markets reacted quickly: 🔸 Gold slid sharply, erasing its gains for the year 🔸 Bitcoin fell from roughly $72.8K to the mid-$64K range 🔸 Spot BTC ETFs recorded a prolonged streak of net outflows totaling billions of dollars 🔸 Futures markets are now assigning meaningful odds to another rate hike before year-end 🔸 Near-term expectations remain heavily tilted toward a Fed hold Meanwhile, Trump stated there is "no reason" for higher rates and suggested future policy decisions could be shaped by the next Fed leadership team. Adding another layer to the picture, the Treasury is expected to rebuild cash balances aggressively, potentially draining additional liquidity from financial markets in the months ahead. If higher-for-longer rates become the dominant narrative, risk assets may face a much different environment than investors anticipated at the start of the year. How are you positioning your crypto portfolio if rate cuts remain off the table and a hike becomes a realistic possibility? 👇 #Macro #Bitcoin #Crypto #Fed #Markets