Bitcoin Price Sinks 10% As Market Braces For Macro Storm Ahead
Bitcoin price has shed 10% in a single day in an increasingly dangerous macro climate. Although the ultra-scarce cryptocurrency is claimed to be a hedge against catastrophic economic events, there is no telling how the volatile asset could react when it does finally arrive. With the stock market on shaky ground and precious metals melting down further, is the top cryptocurrency and the rest its altcoin brethren about to experience a bleed out similar to Black Thursday? Or is this just a shakeout using nervous market sentiment over what ends up being a non-event? And which event are we....
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Bitcoin (BTC) price declined by 2.7% in the past 24 hours as the US Federal Reserve (Fed) looks poised to initiate its widely anticipated rate-cut cycle this week. Why Did Bitcoin Decline Ahead Of Rate Cuts? Hovering around $60,000 throughout most of the weekend, BTC price experienced a slump of 2.7% ahead of the Fed’s […]
The Bitcoin correlation with the macro markets reached new highs in 2022. This saw the price of the digital asset, and the entire crypto market by extension, follow the movement of the stock and equities market very closely. There were forecasts that the cryptocurrency would begin to decouple from the macro market as time went on but data shows that the correlation still remains very high even now. Following The Macro Market One of the most prominent ways that the macro market and the bitcoin correlation have shone through has been during important events like the CPI data releases. The....
Markets await the highly anticipated September consumer price index data release. A higher CPI could easily take yields higher and risk assets lower.