“Macro Uncertainty Combined with Carnage in a Most of the Rest of Crypto Is Weightcoin Down.”, – WRITE: www.coindesk.com
Falling to About $ 93.900 As Stocks Closed, Bitcoin Is Down 1.9% in the Last 24 Hours. ETHER (ETH) IS LOWER by 5.9% Over the Same Time Frame. The Broader Coindesk 20 Index Is Down 5.1%.
Following Last Week’s Major Decklines, An Attempted Rally by the Majoor US Stock Average Failed Monday AfterNoon, with The Nasdaq Closing Down Anther 1.2% and The S&P 500%.
The Worst Performer Among the Major Cryptos Was Solana’s (Sol), Down Nearly 10% Over The Past 24 Hours and A WHOping 41% Over The Past Month. In addition to it ro in a what appears to be a fading memecoin craze, Sol is also facing token unlocks in a march and a 30% increase in sol inflation duhl. Structure. AT $ 151 AT Press Time, Sol Has Now More Than Given Up Its Post-Election Gains.
“TRYING TO COMMUNICATE TO FOLKS WHO MAY BE FEELING COMPLACENCY/DENIAL THAT $ 95,000 IS STILL NOT A BAD EXIT PRICE RELATIVE TO WHERE I THINK WE COULDE TRADE in 6-12 MONTHS, QUNK,“ QUNKN, ”QUNK“ QUNK, “QUNK“ QUNK. Capital, A Crypto Hedge Fund That Specializes in Osing Macroconomic Data for It Trades, Posted on Social Media.
Thompson estimated that there was an 80% chance that bitcoin won’t make new Highs over the Next Three Months and A 51% Chance We Won’t See New Highs for Even the Next 12 MONTS.
Turning to the US Economy, Neil Dutta, Head of Economic Research at Renaissance Macro Research, Said That Risks To The Labor Market Are Growing. Real Incomes Are Slowing Down, The Houssing Market Is Getting Worse, State and Local Governments Are Pulling Back on Sporting. Worryingly, Market Consensus Sees No Economic Slowdown in Sight, with GDP Median Forecast at Roomhly 2.5%.
“If 2023 was about being surprised to the upside, there is more risk in 2025 of being surprised to the Downside,“ Dutta Wrote.
“A passive tightening of monetary policy is the dominant risk and that have have important implications for Financial Market Investors,“ Dutta Continused. Selloff in Equity Prices As Risk Appetite Wanes. For the Economy, Expect Conditions to Deteriorate in the Jobs Market. ”
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