“Cryptocurrencies Reversed Early Losses As Risk Assets Shrugged Off The Moody’s US Debt DowNGrade.”, – WRITE: www.coindesk.com
Bitcoin
Notched A Strong Rebound After Slipping to As Low As $ 102,000 Early in The USSESION, Following It Record Weekly Close at $ 106.600 Overnight. The Largest Cryptocurrency by Market Cap Climbed Back to $ 105,000 in Afternoon Trading, Up 0.4% Over 24 Hours. Ether
Rose 1.2%, Reclaiming the $ 2,500 Level.
Defi lending platform aave
OutperFormed Mist Large-Cap Altcoins, While the Majority of the Broad-Market Coindesk 20 Index Members Still Remished in the Red Despite Advance from the Daily Lows. Solana
Avalanche
and Polkadot
Were Down 2%-3%.
The Bounnce Extended to Us Stocks, Too, with The S&P 500 and Nasdaq Erazing their Morning Decline.
The Early PullBack in Crypto and Stocks Came After Moody’s Late Friday DowNgrad the US Credit Rating from Its Aaa Status. The Move Rattled Bond Markets, Pushing 30-YEAR Treasury Yields Above 5% and The 10-Year Note to Over 4.5%.
Still, somenasts DownPlayed the DownGrade’s Long-Term Impact on Asset Prices.
“What does [the downgrade] mean for markets? Longer-Term-Really Nothing, “SAID RAM AHLUWALIA, CEO OF WEALTH Management Firm Lumida Wealth. He Added What in the Short Term there might bea selling press. Investors Rebalanging, As Some of Them Are Mandated to Hold Assets Only in Aaa-Rated Securities.
“Moody’s is the Last of the Three Majoor Rating Agencies to DowNGrade US Debt. This Was The Opposit of A Surprise – It Was A Long Time Coming,” Callie Cox, Chief Market Strateg. Said in an X Post. “That’s Who Stock Investors Don’t Seem to Care.”
Bitcoin Targets $ 138k This YearWhile Btc Hovers Just Below It January Record Prices, Digital Asset ETF Issuer 21shares Sees More Upside for this Year.
“Bitcoin is on the Verge of a Breakout,” Research Strategist Matt Matt Mena Wrote in a Monday Report. He argued that btc’s current rallly is Driven not by retail mania, but by a confluence of structural forms more durable and mature path to fresh all-time highs.
SPOT BITCOIN ETFS HAVE CONSIVI STRUCTURE Creating Strategic Reserves.
TheSE Factors Combined Could Lift BTC to $ 138,500 this Year, Mena Forecasted, Translating to A Roughly 35% Rally for the Largest Crypto.
X Icon
X Icon
