There could be a pause in massive liquidations that triggered this crypto winter, as many prominent players are not allowed to touch assets until bankruptcy proceedings are resolved, according to cryptocurrency market data provider Kaiko.
One major signal is bankruptcy proceedings in which lending firms like Celsius, Voyager, and 3AC are involved will pause the wave of outflows. The next big event for crypto will be how the market reacts to the Federal Reserve's likely 75-basis-point hike — the second rate increase of that magnitude in a row.
Bitcoin will likely remain sensitive to macro signals like the latest inflation data or unemployment numbers until global markets stabilize or inflation falls, and the Fed essentially neutralizes their monetary activity, Medalie pointed out.
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This is how the crypto market, especially BTC and ETH, reacted amid latest Fed hikeThe Federal Reserve increased the interest rate by a further 0.75% and the crypto markets responded bizarrely. The U.S. interest rates are back to pre-pandemic levels as the battle against inflation rages on. The crypto market has thus rallied in response to the rate hike as trader sentiment shocks market skeptics. Only surprises here Griffin […]
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This is how the crypto market, especially BTC and ETH, reacted amid latest Fed hikeThe Federal Reserve increased the interest rate by a further 0.75% and the crypto markets responded bizarrely. The U.S. interest rates are back to pre-pandemic levels as the battle against inflation rages on. The crypto market has thus rallied in response to the rate hike as trader sentiment shocks market skeptics. Only surprises here Griffin […]
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