One CPI report was enough to send BTC tumbling. Could things get even worse?
If Trump takes military action against Iran after the midterms, while the Houthis and Saudi Arabia remain locked in conflict, could oil prices skyrocket?
BTC has historically struggled to avoid steep drops in midterm election years. Could this time be different? Whales are accumulating, and ETFs and BlackRock have made occasional buys, but the macro backdrop is genuinely unfavorable for BTC.
Yields on 10- and 30-year U.S. Treasuries are nearing 5.5%, putting non-yielding assets under pressure to reprice. U.S. stock indexes are being propped up by giants like Microsoft, Apple, and META; beneath the inflated surface, a large number of individual stocks have already been battered.
A December rate hike is all but certain. If U.S. stocks also falter and plunge across the board, the risk will spill over to BTC, which won't be able to escape unscathed. When the nest falls, no egg remains intact.
So I'm leaning bearish ahead of the rate hike. Only after the midterms and rate hike are behind us, the macro picture clears, and the bad news is fully priced in might BTC truly turn around.
Before the December rate hike, Bitcoin's bull market is likely to make a comeback. Do you think that's a good thing or a bad thing?
(For copy-editing purposes only; this is not investment advice.)#btc @Binance Earn Official @Binance BiBi
If Trump takes military action against Iran after the midterms, while the Houthis and Saudi Arabia remain locked in conflict, could oil prices skyrocket?
BTC has historically struggled to avoid steep drops in midterm election years. Could this time be different? Whales are accumulating, and ETFs and BlackRock have made occasional buys, but the macro backdrop is genuinely unfavorable for BTC.
Yields on 10- and 30-year U.S. Treasuries are nearing 5.5%, putting non-yielding assets under pressure to reprice. U.S. stock indexes are being propped up by giants like Microsoft, Apple, and META; beneath the inflated surface, a large number of individual stocks have already been battered.
A December rate hike is all but certain. If U.S. stocks also falter and plunge across the board, the risk will spill over to BTC, which won't be able to escape unscathed. When the nest falls, no egg remains intact.
So I'm leaning bearish ahead of the rate hike. Only after the midterms and rate hike are behind us, the macro picture clears, and the bad news is fully priced in might BTC truly turn around.
Before the December rate hike, Bitcoin's bull market is likely to make a comeback. Do you think that's a good thing or a bad thing?
(For copy-editing purposes only; this is not investment advice.)#btc @Binance Earn Official @Binance BiBi