Don't want to trade it yourself?
Our desk runs DEX portfolios on profit share.
Following the sudden and sharp rise in the cryptocurrency markets, Caitlin Long, Founder and CEO of Custodia Bank and a leading figure in the market, assessed the recent activity in <a href="https://xpertsstudio.com/ray-dalio-warns-of-us-debt-crisis-recommends-gold-and-<a href="https://xpertsstudio.com/bitcoin-closes-3-month-sp-500-gap-eyes-90k-target-by-2026/” title=”Bitcoin Closes 3-Month S&P 500 Gap, Eyes $90K Target by 2026″>bitcoin/” title=”Ray Dalio Warns of US Debt Crisis, Recommends Gold and Bitcoin”>Bitcoin and the general financial markets. Long stated that a macroeconomic reason and the actions of the US Treasury Department were behind the sharp jump in the market.
Caitlin Long, commenting on the US Treasury Department’s announcement that it will more than double its long-term bond (30-year Treasury bond) repurchases, described this as a form of “yield curve control.”
Long stated that this move directly triggered a sharp movement in interest rates and put pressure on the US dollar, weakening it. He added that a weaker dollar generally supports risk assets. This situation triggered a sharp upward movement in leading crypto assets such as Bitcoin and Ethereum.
Responding to the question “Has the 4-year cycle ended?”, which has been frequently debated in the market recently, Long argued that the charts and fundamental data indicate that the cycle is still ongoing. He stated that the basic dynamics of the mining economy have not changed; it is a natural part of the cycle for miners to lose profitability due to high electricity and computing costs and withdraw from the market.
Long, who refrained from making price predictions, stated that based on past experience, Bitcoin appears cheap at current levels.
*This is not investment advice.
Source: cryptonews.net