Will macroeconomic narratives subside?
BTC and ETH have shown resilience despite the challenges faced by the crypto industry. Bitcoin’s Anchored Volume Weighted Average Price (AVWAP) indicates a bounce back from previous setbacks.
What macroeconomic developments could impact crypto prices?
While the market expects rate hikes from the Federal Open Market Committee (FOMC), other factors could affect prices:
- Stress tests show banks are well-positioned to weather a recession, giving the FOMC room to raise rates.
- Consumer revolving debt is at all-time highs, raising concerns about credit balances and employment.
- The inverted yield curve, historically a sign of recessions, creates uncertainty despite the FOMC’s economic projections.
What could be the short-term hurdle for crypto prices?
Investors questioning their bullish bias and reluctance to deploy capital to crypto assets could hinder price growth.
Hot Take:
While BTC has shown resilience, macroeconomic factors and investor doubts could pose obstacles to further gains in the short term.
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