Kaiko Research: BTC traders must rely on data, just like central banks

08/31 21:04

Volatility is unlikely to disappear in the coming months as the Federal Reserve prepares to accelerate the drawdown of its massive $9 trillion balance sheet or implement so-called quantitative tightening in September, Kaiko researchers wrote in a report. Combined with rising interest rates and a data-driven approach to monetary policy, this could put additional pressure on risky assets. Jeff Dorman, chief investment officer at asset manager Arca, says we are as data-dependent as the Fed right now, which means traders will be evaluating corporate earnings reports as well as employment and other economic data in the coming weeks. Bitcoin has no cash flow, it's not acting as a hedge against inflation, it's not acting uncorrelated, it's not doing anything it was meant to do, so until you get a new narrative for Bitcoin, I think it will continue to lag the market.
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DisclaimerThe content above does not represent HTX's positions.HTX does not provide any trading recommendations.

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