Primecoin

Bitcoin is starting the trading day in the negative, falling to $27,805 after a loss of 0.63%. At $1,741, ether prices had dropped 2.5%. The issue of interest rates is, without a doubt, in the forefront of everyone&#39;s thoughts right now.David Mericle, Chief Economist at Goldman Sachs, stated in a recent note that the Federal Reserve will suspend interest rate hikes because of the strain that has been placed on the banking sector.Mericle wrote that markets appear to be less than fully convinced that efforts to support small and midsize banks will prove sufficient, despite the fact that policymakers have responded aggressively to shore up the financial system. &#34;While policymakers have responded aggressively to shore up the financial system,&#34; Because of this, we believe that the officials at the Fed will agree with us that the stress in the financial system is still the most pressing worry for the time being.According to Tom Shaughnessy, co-founder of Delphi Digital, the market is sending out contradictory signals. There are a lot of people who believe that the prospect of the Fed delaying their rate hikes is a good signal for bitcoin, but the truth may be something completely different.During a recent appearance on CoinDesk TV, he made the following statement: &#34;The data implies that once the Fed stops rising or pivots, that&#39;s usually when markets fall off.&#34; &#34;I believe liquidity pressures or surpluses there are more to blame for the surge than the Fed&#39;s decision to pause monetary policy,&#34;It&#39;s possible that the data from CryptoQuant will support Shaughnessy&#39;s argument. According to its Adjusted Output Profit Ratio measure, which monitors the profitability of HODLers, a greater number of investors are selling their holdings at a profit. During the height of a bull market, this may be an indication that the market has reached its peak.

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