Crypto Crisp: Everything Is About the U.S.

The spotlight has been squarely on the United States over the past week, and this focus is expected to continue for the foreseeable future. This is primarily due to the macroeconomic landscape, particularly in the U.S., and recent developments surrounding the government’s possible plan to liquidate just over 69,000 bitcoins seized from Silk Road in 2020.
Let us delve into the details.
The crypto market’s downturn largely stems from two key concerns, both tied to developments in the United States. The first is the potential liquidation of a significant portion of seized Bitcoins by the U.S. government ahead of Trump’s inauguration. The second is the ongoing repricing driven by an unfavorable macroeconomic environment, with inflation once again taking center stage. While we do not view the first issue as a major concern, we believe the latter could further pressure the crypto market, likely worsening conditions before prices eventually return to green.
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