This time, don’t look only within crypto for reasons behind the $BTC drop.
Brent crude briefly climbed above $104 a barrel, Treasury yields swung sharply, and the Nasdaq fell 1.3%. Higher oil prices fueled inflation concerns, pushing up interest rate expectations and weighing on risky assets across the board.
Bitcoin may be called digital gold, but in short-term trading it still behaves more like a high-volatility tech asset.
Until macroeconomic pressures ease, simply proclaiming a bull market in crypto is unlikely to send prices straight back up.
Brent crude briefly climbed above $104 a barrel, Treasury yields swung sharply, and the Nasdaq fell 1.3%. Higher oil prices fueled inflation concerns, pushing up interest rate expectations and weighing on risky assets across the board.
Bitcoin may be called digital gold, but in short-term trading it still behaves more like a high-volatility tech asset.
Until macroeconomic pressures ease, simply proclaiming a bull market in crypto is unlikely to send prices straight back up.