Crypto’s downturn is about more than the macro environment
The global economic downturn should not have a long-term negative effect on cryptocurrency prices, even if it is influencing crypto in the short term. Go to Source Powered by WPeMatico
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Data challenges the DXY correlation to Bitcoin rallies and corrections ‘thesis’
Analysts and traders strongly adhere to the “Bitcoin is inversely correlated to the strength of the U.S. dollar index” thesis, but a closer look at the data suggests otherwise. Go to Source Powered by WPeMatico
Market Strategist Expects Stock Market to Drop 50% From Here, Says There’s ‘Going to Be No Middle Class Left’
Following Jerome Powell’s hawkish commentary at the annual Jackson Hole Economic Symposium, major stock indexes, cryptocurrencies, and precious metals slid significantly in value. Over $240 billion was erased from the crypto market and the Crypto Fear and Greed Index continues to slide lower, edging toward “extreme fear.” Furthermore, the chief strategist at bubbatrading.com, Todd ‘Bubba’ … Read more
Bitcoin derivatives show a lack of confidence from bulls
High correlation to stock markets and recession risks limit optimism on the part of BTC investors. Go to Source Powered by WPeMatico
Ethereum price falls below $1.1K and data suggests the bottom is still a ways away
ETH price has stalled around the $1,100 level, but several data points suggest the altcoin’s sell-off is far from complete. Go to Source Powered by WPeMatico
$32K Bitcoin price could turn the tides in Friday’s $160M BTC options expiry
BTC price lost the momentum that pushed it to $32,300 on May 31, but this week’s option expiry could help bulls recapture the key price level. Go to Source Powered by WPeMatico
Crypto Market Turning Point — Most Cryptocurrencies Down 57% to Over 80% From Price Highs
Roughly six months ago, bitcoin and a number of digital assets reached all-time highs and the crypto economy crested above $3 trillion in value. Today is a different story as a great majority of cryptocurrencies are down between 57% to over 80% against the U.S. dollar. While Cryptos Are Down From the ATHs, 2020 Holders … Read more
Bitmex Co-Founder Arthur Hayes Says Bitcoin Could Drop to $30K Amid a Stock Market Rout
The co-founder and former CEO of Bitmex, Arthur Hayes, has published a new blog post concerning the current state of cryptocurrency markets. Hayes says currently there’s an inability to recognize the cyclical nature of markets and the “inconvenient truth” that is crypto is now moving in “lockstep” with market equities. Hayes expects the Nasdaq 100 … Read more
Bitcoin traders say $34K was the bottom, but data says it’s too early to tell
Bitcoin traders say the bottom is in, but it’s important to also consider BTC’s correlation to equities markets. Go to Source Powered by WPeMatico
Here’s why Bitcoin traders shouldn’t overanalyze US inflation data
Analysts say record high inflation in the United States is impacting crypto market momentum, but is the impact of the data overstated to the detriment of investors? Go to Source Powered by WPeMatico
