📉Bitcoin’s Price Influenced by Macro Factors 🌍🔍 Not Events🚀📊
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🤔 In 2024, contrary to popular opinion, Bitcoin’s price has been driven by changes in global growth expectations, not by ETFs, halving, or Fed policy.
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🔎 Research from André Dragosch shows 80% of BTC price action ties to global growth shifts, while hedge funds reduced BTC exposure to levels unseen since 2020.
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📉 Macro risks, including a potential U.S. recession, might push Bitcoin lower in the short term; pessimism is at its highest point since 2019.
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📉 Jason Choi indicates we’re in a bear market with defensive stances taken, reflecting a pessimistic sentiment towards risky assets like cryptocurrencies.
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🔍 James Butterfill points to the Fed’s hawkish stance as a reason for Bitcoin’s stagnation despite the inflows into ETFs, awaiting a rate cut to boost BTC prices.
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✨ Dragosch predicts “chopsolidation” for summer, expecting lower volatility and performance but sees potential for positive trends by years’ end due to halving and Ethereum ETFs.
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#Bitcoin #CryptoNews #MacroEconomics #ETFs #BTCPrice #FedPolicy #Blockchain #HAL149 #AI #CryptoMarket
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For more info: https://thedefiant.io/news/markets/is-the-bear-market-back-data-says-yes?rand=6477