CoinDesk Podcast Network
MARKETS DAILY: Crypto Update | Is Korea's Upcoming Election Behind the Meme Coin Frenzy? With Markus Thielen
Mar 18, 2024
Discussing bitcoin's price movements and meme coin frenzy with Markus Thielen. Insights on ETF inflows, market fragility, and potential price forecasts. Analysis of political events in Korea influencing meme coin surges and Micro Strategy's Bitcoin correlation.
15:03
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Quick takeaways
- Bitcoin's market stability relies on strong ETF inflows, with recent drops signaling potential instability.
- Korea's meme coin frenzy correlates with the upcoming election, suggesting a possible decline post-election.
Deep dives
Bitcoin ETF Flows Impacting Market Stability
Marcus Tealyn from 10xResearch discusses the impact of ETF flows on the market stability. He notes a noticeable drop in flows recently, leading to market sell-offs. The reduced inflows, particularly with GBTC and Bitcoin prices failing to rise during US trading hours, suggest a potential fragile market condition. Tealyn emphasizes that strong flows are pivotal for the market rally to persist.
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