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Costco is about to release its earnings report, so why is the crypto community so focused on how many rotisserie chickens it sold?
First, it doesn't stockpile Bitcoin, and second, it doesn't accept Bitcoin payments.
But it knows whether Americans' wallets are still full.
Good earnings → Americans are still buying lots of toilet paper and rotisserie chickens → strong consumption → inflation remains high → the Fed dares not cut interest rates → liquidity-dependent risk assets like crypto suffer
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