Orbit

Strong

Bitcoin

April

BlackRock

<p>The post <a href="https://coinpedia.org/news/bitcoin-stays-strong-amid-economic-turmoil-whats-behind-it/">Bitcoin Stays Strong Amid Economic Turmoil: What’s Behind It?</a> appeared first on <a href="https://coinpedia.org">Coinpedia Fintech News</a></p> 
<p>As global markets experience turbulence due to higher-than-expected CPI inflation data, Bitcoin stands out with its resilient performance. Despite a sharp correction in traditional markets, the cryptocurrency remains stable, drawing support from sector-specific factors and heightened anticipation of the upcoming April halving event.</p> 
<h2 class="wp-block-heading" id="h-expert-s-take-on-bitcoin-s-strength">Expert’s Take on Bitcoin’s Strength</h2> 
<p>Facing a significant correction on Wall Street triggered by a robust U.S. inflation report, <a href="https://markets.coinpedia.org/bitcoin/">Bitcoin showcases remarkable</a> resilience. Market analyst Tony Sycamore from IG Australia Pty acknowledges this stability but suggests a potential 10% correction, envisioning Bitcoin dipping below $40,000.</p> 
<p>Bitcoin finds support from the introduction of dedicated U.S. exchange-traded funds (ETFs) led by BlackRock Inc. and Fidelity Investments. Since their trading debut on January 11, these ETFs have collectively attracted around $3.3 billion in net inflows.</p> 
<p>Moreover, the imminent <a href="https://coinpedia.org/news/binance-boss-spills-crypto-secrets-bitcoin-ethereum-bnb-to-boom-eth-etf-coming-soon/">Bitcoin halving</a> in April, historically known to spark price appreciation through reduced supply, adds to the positive sentiment. Caroline Mauron, co-founder of Orbit Markets, underscores the halving’s impact, stating:</p> 
<h2 class="wp-block-heading" id="h-santiment-market-outlook">Santiment Market Outlook</h2> 
<p>On-chain data provider Santiment notes a shift in sentiment among investors following the recent BTC price reversal. This polarization in sentiment is expected to intensify, potentially leading to significant market fluctuations.&nbsp;</p> 
<p>Analysts at Santiment draw attention to a historical trend, suggesting that past Consumer Price Index <a href="https://coinpedia.org/crypto-live-news/u-s-inflation-cools-further-in-november-cpi-falls-to-3-1/">(CPI) reports</a> have coincided with mid-term turnarounds in the crypto market.</p> 
<h2 class="wp-block-heading" id="h-bitcoin-shows-its-strength">Bitcoin Shows Its Strength</h2> 
<p><a href="https://coinpedia.org/news/bitcoin-hits-50-3k-milestone-triggers-surge-in-microstrategy-and-mining-stocks/">Bitcoin’s ability</a> to withstand global economic turbulence, coupled with the support from institutional players and the upcoming halving, showcases its adaptability. Even if things are unsure for a short time, Bitcoin and the whole crypto market might change in the next few months.</p>

Bitcoin Stays Strong Amid Economic Turmoil: What’s Behind It?

Table of Contents

CoinPedia News

Outros artigos publicados em 14 de fev. de 2024

Best Crypto to Buy Now February 14 – Bittensor, TRON, Akash Network

Ethereum devs create DN-404 in response to ERC-404 gas issues

Coinbase Suspends PlayDapp Trading After Hack, PLA Price Reacts

AMA session with Decimal CEO Anatoly Berdnikov. Text format.

MicroStrategy Buys $37 Million in $BTC as VC’s Eye New Memecoin

Shiba Inu Roadmap: Team Announces End Date; New AI Crypto to Eclipse Chainlink Next Year

Join our free newsletter for daily crypto updates!