BTC fell below $40,000. Marketers are well aware that there is a super bubble in the US commodities market.

金色财经 view 34076 2022-1-21 11:01
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At 10:00 a.m. on January 21, the market saw BTC fall below $40,000 and ETH fall below $2,900. This is the decline after Bitcoin rose above $43,000 at the dawn of the 21st. The market volatility and expectations index was 19 (previously 24), which is a warning above yesterday's. .

Market analysts noted that the slowdown contributed to the continued negative sentiment towards the economy and the bullish and bearish once in the stock market. Meanwhile, the tech-focused Nasdaq Composite fell 1.30% in US trade. The S&P 500 also lost 1.10%.

OANDA market analyst Edward Moya said on Tuesday that Bitcoin is still bracing for further trades as a risky asset, raising concerns about Fed tightening. US Treasury (contract) gains will continue this week, which could test altcoins with some Bitcoin holders. However, Moya is bullish on Bitcoin's rebound. Moya said the break in US Treasury yields isn't likely to happen anytime soon, but said it could be a clear signal for many traders to cut cryptocurrency.

Last week, initial jobless claims in the United States hit a three-month high, indicating a bigger impact on the market with the appearance of Omicron. Danske Bank said the Fed could raise rates for the first time in March if the U.S. economy grows on demand thanks to tighter markets and continued inflation. Market analysts believe that competition from cryptocurrencies, driven by central bank lending, as well as the pace of price increases, is weakening.

US Treasury yields are still up 2%, with traders betting that the Federal Reserve will raise prices more sharply in March. Since January, the 10-year US Treasury contract has risen 37 basis points to 1.88%, the fastest monthly rise since November 2016. The Treasury, which has raised more than 30 principles since the start of the year, is now starting to look pretty good, says PIMCO. It also happens that some traders discount cryptocurrencies.

In fact, not only the cryptocurrency market but also US stocks are experiencing a similar trend. Recently, Jeremy Grantham, a well-known stockbroker who has been predicting a bubble market for many years, said that the stock market has entered a crash story as he predicted a year ago and even the impact of the Fed fell by 50%. Some analysts fear that in the event of a major change in the stock market, the value of BTC will fall, regardless of the importance of the supply chain.

Despite the downturn in the cryptocurrency market, there is still a positive sound. Mike McGlone, equity expert at Bloomberg, believes that Bitcoin and Ethereum will see a strong surge in 2022, despite recent weakness in the cryptocurrency market. In a new analysis, McGlone said BTC and ETH have a strong foundation to boost their competitiveness. Both are estimated to continue to be the top cryptocurrencies in 2022 as Bitcoin surges to $100,000 and Ethereum also surges above $5,000. McGlone thinks Bitcoin is in the "bull market" and predicts that the Fed's new policy will benefit Bitcoin.


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