In recent days, Bitcoin's price has dropped by over 5%, hitting a low of $58,900. But what’s behind this correction?
🔸 US Inflation and Stagflation: The recent increase in the CPI (+0.2%) has raised fears of stagflation. With the economy slowing and prices continuing to rise, the Federal Reserve may have less room to lower interest rates.
🔸 Rising Unemployment: Unemployment claims in the United States have reached the highest level in the past 14 months, a worrying sign for the global economy.
🔸 Signals from Derivatives: Bitcoin's futures premium dropped below 5% for the first time in two months. The last time this happened, BTC's price plummeted by 24% in just three days! 🚨
🔸 Outflow from ETFs: $59 million was withdrawn from Bitcoin ETFs between October 8th and 9th, indicating a negative sentiment among institutional investors. However, not all is lost! The options market isn't showing major movements, suggesting that traders do not expect an immediate crash.
💡 Your strategy? Stay calm and monitor macroeconomic developments. This could be an opportunity for those who can seize the right moment! 😉 By gue22