Markets Daily Crypto Roundup
Crypto Update | Why Bitcoin May Fall to $52K
Apr 18, 2024
Helene Braun and Markus Thielen discuss the potential Bitcoin price dip to $52K, factors behind the bearish sentiment, including macroeconomic influences and the absence of traditional price drivers. They analyze the impact of Bitcoin halving, inflation rates, and market trends on cryptocurrency valuation. Insights on Bitcoin as a hedge, tech stock selling, BlackRock ETF speculation, and altcoin trading trends are explored in the podcast.
14:59
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Quick takeaways
- Bitcoin price may fall due to reduced ETF inflows and inflation impact.
- Halving event may not boost prices significantly, as macroeconomic factors play a key role.
Deep dives
Bitcoin Price Drivers: ETF Inflows
The recent bearish turn in the Bitcoin market can be attributed to the decline in ETF inflows, which have significantly reduced over the past four to five weeks, leading to a lack of substantial upside drivers. The evidence suggests higher inflation numbers impacting Bitcoin prices, with data releases in March and April correlating with sharp sell-offs in the cryptocurrency. Additionally, market internals show weakened funding rates and decreased investor interest, signifying a shift away from previous bullish trends.
