Transferred from: Golden Ten data
The collapse of Bitcoin has attracted the attention of investors.PlaydoubledoublebonuspokerfreeonlineThey believe that the apparent volatility of digital tokens may be a harbinger of a broader change in risk appetite in global markets.
After plunging nearly 16 per cent in April, Bitcoin has fallen about 4 per cent in the past two days, the worst monthly decline since the domestic explosion of Sam Bankman-Fried 's FTX digital assets in November 2022.
Some investors look for clues to the dynamics of liquidity in Bitcoin information, which could have an impact on other assets. Bitcoin has fallen in the past few weeks as the Fed signalled that interest rates would remain high for longer.
"Bitcoin is our favorite canary," Charlie Morris, chief investment officer of ByteTree Asset Management, wrote in a note. "it is warning financial markets that there will be trouble in the future, but we can believe that it will rebound at some point."
"the recent strength of the dollar may be a sign of future market tension." Morris added.
In mid-March, driven by large amounts of money injected into the US-listed spot bitcoin ETF by companies such as BlackRock and Fidelity Investments, Bitcoin, the largest digital asset, reached nearly 7%.PlaydoubledoublebonuspokerfreeonlineAn all-time high of .40,000 US dollars.
Demand for these products has since waned, and spot bitcoin and ethernet ETFs launched in Hong Kong this week failed to benefit the market. The net asset value discount of some US portfolios has expanded to record levels, highlighting the challenges that Bitcoin volatility can pose.
According to data collected by foreign media, Bitcoin has experienced four April declines in the past decade, three of which foreshadowed an average 18% decline in May. However, if inflationary pressures ease and the market returns to bets on the Fed's looser stance, pressure on cryptocurrencies and other speculative assets may ease.
Federal Reserve Chairman Colin Powell maintained hopes of cutting interest rates this year after concluding the latest FOMC meeting on Wednesday. But he also acknowledged that the rebound in inflation had undermined confidence that price pressures were receding. "bullish sentiment will decrease over the next three to four months, risk orientation will increase, and the market will keep a close eye on inflation, employment and economic data to prevent unexpected shocks or boost confidence in potential interest rate cuts," said BIT Mining Ltd.