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Bitcoin price hits $61K, but investors still prefer stocks and bonds right now
Although Bitcoin B BTCUSD has gained 21% since it retested the sub-$50,000 level on Aug. 5, its price has struggled to maintain above $62,000.
Meanwhile, the S&P 500 index has fully recovered and is now trading just 1% below its all-time high set on July 16.
Bitcoin faces several conflicting trends which include derivatives metrics reflecting low buyer interest and macroeconomic indicators suggesting that traders are increasingly shifting away from cash positions. Interestingly, these stock market gains have coincided with a notable decline in US Treasury yields, which signals robust demand for these traditionally safe instruments.
In essence, traders are now willing to accept lower returns on fixed-income assets, likely reflecting a growing confidence in the Federal Reserve's (Fed) strategy to curb inflation without sparking a recession. The Fed is widely expected to cut interest rates on Sept. 18, after maintaining rates above 4% since December 2022
Although Bitcoin B BTCUSD has gained 21% since it retested the sub-$50,000 level on Aug. 5, its price has struggled to maintain above $62,000.
Meanwhile, the S&P 500 index has fully recovered and is now trading just 1% below its all-time high set on July 16.
Bitcoin faces several conflicting trends which include derivatives metrics reflecting low buyer interest and macroeconomic indicators suggesting that traders are increasingly shifting away from cash positions. Interestingly, these stock market gains have coincided with a notable decline in US Treasury yields, which signals robust demand for these traditionally safe instruments.
In essence, traders are now willing to accept lower returns on fixed-income assets, likely reflecting a growing confidence in the Federal Reserve's (Fed) strategy to curb inflation without sparking a recession. The Fed is widely expected to cut interest rates on Sept. 18, after maintaining rates above 4% since December 2022
#MyFirstSquarePost Hello, Binance Square!
#saga why binance allowed such coins which are trading just for shorts.
I long this coin and all the way it consume all my usdt still its going down and down.
I am not hopeful it can bounce back untill I got liquidated at 0.5
#saga why binance allowed such coins which are trading just for shorts.
I long this coin and all the way it consume all my usdt still its going down and down.
I am not hopeful it can bounce back untill I got liquidated at 0.5