$BTC is surging, but the Fed just made these statements. 1. Multiple officials: If inflation doesn’t drop, rate hikes may continue 2. 3 FOMC members voted to support a 25bp rate hike 3. Inflation risks remain tilted upward, financial conditions may not be tight enough 4. Stock valuations are extreme, equity risk premium is only slightly lower than during the dot-com bubble Valuations have reached extremes, and rates might go higher. Is the market ready?