Warren Buffett dumps $13.3B in stocks — A warning sign for Bitcoin and risk-assets?

The increasing possibility of a global recession also risks putting downside pressure on Bitcoin, whose 100-week correlation with the Nasdaq reached its highest level of about 0.42%.

"Bitcoin could pace declines for risk assets — If the worst isn't over for risk assets, Bitcoin may lead the way lower,""Bitcoin is up about 70% in 2023 to May 2 vs. 20% for the stock index, and those are maybe bounces within broader bear markets. The Fed [is] still tightening in May, and [is] more inclined to stay the course unless risk assets fall to ease inflation, may portend a lose-lose."In the short term, there are little expectations from the U.S.

The market considers Berkshire Hathaway’s performance as a key indicator to gauge the U.S. economy’s health, given the firm’s holdings range from American railroad to electric utilities and retail businesses.

Malaysia Malaysia Latest News, Malaysia Malaysia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Warren Buffett says investment opportunities come from 'other people doing dumb things'“What gives you opportunities is other people doing dumb things,' Warren Buffett said. 'There’s been a great increase in the number of people doing dumb things — and they do big dumb things.'
Source: MarketWatch - 🏆 3. / 97 Read more »