Token

Wednesday

Bitcoin

Read

Bitcoin’s correlation to macro factors remains a hot topic as global monetary policies and the asset’s price slumped over the last month 
Token Bay Capital founder and managing partner Lucy Gazmararian said in a CNBC interview Wednesday morning that Bitcoin (<a href="https://crypto.news/price/bitcoin/" target="_blank" rel="noreferrer noopener">BTC</a>) can move in tandem with the stock market. 
The trend appears more evident as digital assets become entangled with traditional finance, Gazmararian noted. Analysts have marked a correlation between BTC and macroeconomics due to geopolitical uncertainty and global monetary policies like rate hikes or cuts employed by the U.S. <a href="https://crypto.news/?s=Fed" target="_blank" rel="noreferrer noopener">Federal Reserve</a>. 
Reverse may also be the case in some scenarios since investors have historically treated Bitcoin as a “risk on” asset and a hedge against inflation. Gazmararian <a href="https://www.cnbc.com/video/2024/06/26/bitcoin-prices-moving-in-tandem-with-macro-backdrop-token-bay-capital.html" target="_blank" rel="">said</a> the correlations sometimes break down as BTC fundamentally differs from other asset classes like bonds and equity. 
 You might also like: <a href="https://crypto.news/bitcoin-etfs-begin-third-week-of-outflows-amid-market-wide-fud/"> Bitcoin ETFs begin third week of outflows amid market-wide FUD </a> 
<h2 class="wp-block-heading" id="bitcoin-top-expected-by-late-2025">Bitcoin top expected by late 2025</h2> 
Despite BTC’s 9% drop in the past 30 days and U.S. inflation concerns, Token Bay Capital’s founder believes the <a href="https://crypto.news/?s=bitcoin" target="_blank" rel="noreferrer noopener">Bitcoin</a> bull run is only halfway through at most. Gazmararian pointed to past “four-year boom busts” noticed in crypto markets. In other words, the ongoing market retracement occurred in previous cycles, especially after the halving.&nbsp; 
“10%, 15%, to 30% drops are really keeping with past cycles,” said Gazmararian. Data from BiTBO and TradingView showed slumps of as much as 40% following Bitcoin’s quadrennial <a href="https://crypto.news/?s=Bitcoin+halving" target="_blank" rel="noreferrer noopener">code change</a>, followed by parabolic runs to new highs.&nbsp; 
According to the charts, BTC has never returned to its pre-halving prices after completing the transition. The managing partner from Token Bay Capital predicted that history could repeat itself, and if this pattern plays out, markets may see a Bitcoin top in late 2025.&nbsp; 
<figure class="wp-block-image size-large">
 <picture loading="lazy" decoding="async" class="wp-image-14281545"> 
 <source type="image/webp" srcset="https://crypto.news/app/uploads/2024/06/graph-1-1024x576.png.webp"> 
 <img loading="lazy" decoding="async" width="1024" height="576" src="https://crypto.news/app/uploads/2024/06/graph-1-1024x576.png" alt="Analyst: Bitcoin bull run far from over - 23"> 
 </picture> 
 <figcaption class="wp-element-caption">
 BTC pre=halving and post-halving data | Source: BiTBO
 </figcaption>
</figure> 
Conversely, Gazmararian surmised that BTC’s continued bull run may be questioned if the asset value declines by more than 50% in the next few months.&nbsp;A 50% price dip would tumble Bitcoin under $32,000 at current levels. 
Per IntoTheBlock, over 84% of long-term BTC holders are in profit, but 71% of short-term buyers are “out of the money” or in losses. Investors in the latter category acquired the cryptocurrency between $52,490.68 and $71,050. This means that aggressive declines could spell massive losses for many buyers. 
<figure class="wp-block-image size-large">
 <picture loading="lazy" decoding="async" class="wp-image-14281557"> 
 <source type="image/webp" srcset="https://crypto.news/app/uploads/2024/06/Screenshot-516-1024x521.png.webp"> 
 <img loading="lazy" decoding="async" width="1024" height="521" src="https://crypto.news/app/uploads/2024/06/Screenshot-516-1024x521.png" alt="Bitcoin money charts"> 
 </picture> 
 <figcaption class="wp-element-caption">
 BTC investor financial data | Source: <a href="https://app.intotheblock.com/coin/BTC/deep-dive?group=financials&amp;chart=inAndOut" target="_blank" rel="">IntoTheBlock</a>
 </figcaption>
</figure> 
 Read more: <a href="https://crypto.news/bitcoin-plummets-10-in-10-days-learn-how-to-spot-the-next-crash/"> Bitcoin plummets 10% in 10 days: Learn how to spot the next crash </a>

Analyst: Bitcoin bull run far from over

Mục lục

crypto.news

Các bài viết khác được xuất bản trên 26 thg 6, 2024

Crypto Hackers Target Metallica in Latest Celebrity Scam

Stablecoin Issuer Circle Joins Adan In Readiness For MiCA Era

Argentinian President Javier Milei Advocates For Bitcoin, Opening Doors To Digital Currency Revol...

Nervos Network: Pioneer in Multi-Chain Blockchain Integration

IoTex Discusses 3 Huge Benefits of Modular DePin Infrastructure

Ethereum ETF To Attract Only 15% Of US Spot Bitcoin ETF Influx: 10X Research

Tham gia bản tin miễn phí của chúng tôi để cập nhật tin tức về tiền điện tử hàng ngày!