One of the strategists of Bloomberg Intelligence, the research arm of the giant economy publication Bloomberg. Mike McGlonecommented on the status of Bitcoin on his Twitter account. McGlone thinks that FTX’s bankruptcy is not “the worst news of the year” for the markets.
Bloomberg analyst, lead cryptocurrency He thinks the downtrend will continue after his unit loses the $18,000 support. According to McGlone bitcoin A downside support for $10,000.
“The decline in cryptocurrencies, coupled with macroeconomic conditions, could spread to all markets. We can see panic selling in almost all markets with a possible domino effect.”
Latest Status in Bitcoin!
After it was revealed that FTX, one of the world’s largest crypto markets, was in a deep liquidity crisis, the market was officially turned upside down. Binance, FTX After he gave up on buying, the market got bloody.
The leading cryptocurrency has lost 15% in the last 24 hours, falling to $ 15,600.
Experts, who state that it may be better not to make any transactions at the moment, warn investors with the word “the falling knife is not caught”.
All Eyes on US Inflation Data
On the other hand, on the new day, the eyes of the markets are on the US inflation data, which will be announced at 14.30 today. The market expectation is for the annual CPI to decline to 8 percent.
An inflation data that may come above expectations may lead to a further deepening of sales in the crypto and stock markets.
FED Chairman Jerome Powell announced that after the FOMC meeting held the previous week, they implemented the tightening policy focused on data. Powell is determined to reduce inflation despite the possibility of a deep recession.
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