Bitcoin’s (BTC) recent performance may be less about crypto market weakness and more about its position at the front of the risk curve. Asset management firm Bitwise said that BTC often acts as a “canary in the macro coal mine,” responding to shifts in liquidity and financial conditions before traditional markets. With equities now showing similar signs of strain, the firm sees Bitcoin’s move as part of a wider risk-off adjustment.
Global liquidity and interest rates stay in focus: Bitwise
Bitwise said that Bitcoin and Ether reached cycle lows of $58,000 and $1,507, respectively, as other global risk assets faced mounting pressure. The Nasdaq recorded its sharpest daily decline of 5% in months, and South Korea’s KOSPI (Korea Composite Stock Price Index), its benchmark stock…
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Source cointelegraph.com
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