Bloomberg Intelligence senior macro strategist Mike McGlone just issued an alert to investors, warning that Bitcoin’s (BTC) latest correction may hint at what’s coming next.
McGlone tells his 60,000 followers on the social media platform X that crypto’s rise to prominence in a time of zero interest rates could spell trouble for the nascent industry as loose monetary policies rapidly reverse.
According to McGlone, Bitcoin’s drop in price despite the renewed potential for future exchange-traded funds (ETFs) may signal a liquidity crisis is coming.
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“ZIRP (zero interest rate policy) in reverse – cryptos in the middle and Bitcoin tilting down. Cryptos came of age during an unprecedented period of zero-interest-rate policies that [are] reversing rapidly, with implications for prices.
Down about 15% in
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