Tag: Macro

  • Bitcoin (BTC) battles macro headwinds despite improved ETF inflows

    Bitcoin (BTC) battles macro headwinds despite improved ETF inflows

    Bitcoin (BTC) battles macro headwinds

    • Bitcoin price remains range-bound amid long-term holder selling and falling demand.
    • US Bitcoin ETFs inflows signal cautious institutional optimism.
    • Macro uncertainty from the Fed and government shutdown keeps BTC under pressure.

    Bitcoin (BTC) continues to navigate turbulent market conditions as macroeconomic uncertainty and institutional dynamics shape its near-term trajectory.

    Despite renewed interest from investors and a notable surge in Bitcoin ETFs, the world’s largest cryptocurrency faces persistent pressure from long-term holder selling, cautious institutional sentiment, and a complex macro backdrop influenced by the Federal Reserve and ongoing government shutdown developments.

    Analysts and strategists are watching closely as BTC balances between cyclical signals and broader market realities in November.

    Bitcoin price struggles amid range-bound trading

    Bitcoin price has remained largely trapped between $106,000 and $116,000 over the past two weeks, signalling a period of consolidation rather than upward momentum.

    Long-term holders have accelerated their monthly distribution to roughly 104,000 BTC, marking one of the heaviest selling waves since mid-July, according to the recent Bitfinex report.

    This persistent supply pressure is coinciding with muted institutional demand following October’s sharp liquidation event, leaving BTC caught in a sideways range with limited short-term catalysts.

    Analysts warn that unless ETF inflows or new spot demand increase, the cryptocurrency could test support near $106,000, and a sustained breach of this level might open the path to $100,000.

    ETF inflows signal cautious optimism

    Despite these headwinds, Bitcoin ETFs have shown signs of recovery, injecting optimism into the market.

    On November 11, US spot Bitcoin ETFs recorded $524 million in cumulative net inflows.

    US Bitcoin ETFs inflows
    Total Bitcoin Spot ETF Net Inflow (USD) | Source: Coinglass

    This return of demand, alongside smart money traders adding net long positions totalling over $8.5 million, highlights a growing, albeit measured, confidence among institutional participants.

    Analysts have noted that sustained ETF inflows may signal an end to the broader de-risking phase observed after the market downturn, even as retail participation remains subdued.

    Macro factors keep BTC on edge

    Despite increased ETF inflows, macro conditions continue to weigh heavily on Bitcoin (BTC).

    The Federal Reserve’s recent 25-basis-point rate cut and the formal end of its balance sheet runoff are tempered by internal division over the next steps, with some officials citing risks from persistent inflation and others warning of slowing labour markets.

    Meanwhile, the Secured Overnight Financing Rate recently plunged to 3.92%, which financial analyst Shanaka Anslem described as indicative of market panic.

    These developments, combined with falling consumer confidence and cooling wage growth, have created uncertainty around near-term capital flows and investor appetite for risk assets like Bitcoin.

    The ongoing government shutdown adds another layer of complexity.

    While the Senate moves toward a potential resolution, analysts note that the relief may boost equities more than cryptocurrencies, as capital appears to rotate toward traditional financial markets while liquidity waits on the sidelines for normal economic data to resume.

    These dynamics have contributed to continued downside pressure on BTC, even as technical and ETF-related signals point to potential stabilisation.

    Bitcoin price outlook for November

    Looking ahead, November may not deliver the historic rallies often seen in the penultimate month of the year, as Bitcoin (BTC) remains caught between conflicting forces.

    While ETF inflows and smart money activity provide a foundation for renewed optimism, ongoing distribution by long-term holders, macro uncertainty, and cautious institutional behaviour continue to weigh on the Bitcoin price.



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  • Arthur Hayes says macro setup favours Bitcoin bulls as KangaMoon attracts investors

    Arthur Hayes says macro setup favours Bitcoin bulls as KangaMoon attracts investors

    • Arthur Hayes is bullish on crypto amid the macro setup that he says could present a golden opportnity
    • He says altcoins as well as presale tokens may be worth a look at as crypto exits latest window of weakness
    • KangaMoon (KANG) is one of the new projects attracting huge attention as its presale noves towards a close

    Arthur Hayes believes the crypto market is set to continue on the upside, pointing to the macro setup and the sovereign debt bubble. The Maelstrom family office head, is also bullish on altcoins and new token launches that he says present a “golden opportunity” after the recent crypto weakness.

    With the market likely to flip bullish in coming months, could this be the time to take advantage of the KangaMoon (KANG) presale?

    Arthur Hays explains bull market setup and potential opportunities

    BitMEX exchange co-founder and former CEO Arthur Hayes is bullish on crypto rebounding after the recent dip, noting that prices could “get sillier on the upside.” This, he argued in his “Left Curve” blog post, could be a ‘golden opportunity” for investors to add to their positions.

    In his opinion, the market is currently exiting “the window of weakness” that likely followed the April 15 US tax payments and the recent Bitcoin halving event.

    While the factors that drove Bitcoin price from zero to $70k over the past decade may not be the same ones at play in the future, Hayes says the macro setup and the fiat liquidity surge that fueled BTC’s staggering gains can only get more pronounced, particularly as “the sovereign debt bubble begins to burst.”

    As we enter the northern hemispheric summer and decision-makers enjoy a respite from reality, crypto volatility will decline. This is the perfect time to take advantage of the recent crypto dip to slowly add to positions,” the BitMEX co-founder noted.

    Altcoins pounded during the latest dump, new token launches and presales are all likely to offer great entry points. These opportunities could materialise over the next few months.

    KangaMoon brings GameFi and SocialFi to meme world

    KangaMoon (KANG) is a new SocialFi and play-to-earn gaming project currently in presale.

    The project, which also taps into meme culture to spice up the epic game battles, has a strong pull due to what the native $KANG token offers to holders. With KangaMoon, the opportunities to earn more $KANG and other exclusive rewards are available right from the presale stage. 

    Kangaverse is the GameFi platform’s ecosystem for contests and tournaments. $KANG holders can access these chances to earn more tokens through weekly, monthly and quarterly competitions and game challenges.

    What makes KangaMoon a potentially great opportunity?

    What makes KangaMoon a potentially great investment opportunity is its current presale price. $KANG’s value during the five stages of the token sale has increased from $0.005 to $0.0196, meaning early birds are looking at about 280% upside on the price.

    However, the current price is also likely to be a great entry point given market predictions for Bitcoin and the altcoin sector. Analysts are also bullish on play-to-earn, while meme coins may see a new leg of interest.

    A look at KangaMoon’s performance as stage 5 of the presale nears a close shows a great deal of confidence in the project from early investors. KangaMoon has raised more than $5.2 million so far, with the final stage 48% sold out.

    Investors can take advantage of the 20% bonus available on all purchases to load up on what could be the next top big thing in SocialFi and P2E.

    To learn more or buy $KANG, visit the official KangaMoon website.

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  • Macro strategist says Bitcoin could be in a supercycle

    Macro strategist says Bitcoin could be in a supercycle

    • Bitcoin is outperforming commodities and gold so far in 2023, with BTC showing a 10x outperformance of the precious metal.
    • Mike McGlone, a senior macro strategist at Bloomberg Intelligence, says Bitcoin could be in a new super cycle.
    • He earlier noted BTC above $25,000 demonstrated the cryptocurrency’s divergent strength.

    Mike McGlone, a senior macro strategist at Bloomberg Intelligence, has noted that the crypto sector could be looking at a new super cycle amid bitcoin’s outperformance of commodities.

    According to the analyst, Bitcoin (BTC) is so far beating top performing commodity asset gold in 2023, with BTC up nearly 10x more to suggest the flagship cryptocurrency may be in a super cycle. BTC price is up 79% year-to-date at the time of writing. Comparatiely, gold price has only gained 5.8% YTD, currently poised around $1,942. 

    McGlone shared the outlook in comments shared via Twitter on Tuesday, his view of the market coming as bitcoin price continued to hover above $28,000. 

    Looking for a super cycle? Bitcoin Outperforms Commodities With Declining Risk – Bitcoin beating gold, the top-performing old-guard commodity in 2023 to March 20, by almost 10x may be indicative of a super cycle happening in the crypto,” the Bloomberg strategist stated.

    Bitcoin’s divergent strength

    According to McGlone, Bitcoin has one advantage over most commodities – its “nascent stage of low and rising adoption” as well as diminishing supply. He observes that BTC shows an elongated upward trajectory in terms of its price when compared to the Bloomberg Commodity Spot Index.

    The outlook is similar across most assets and that despite a bottoming out of the 260-day volatility relative to commodities, Bitcoin is likely to recover vastly versus the asset class as bulls eye new highs.

    As for the latest spike in Bitcoin price, the analyst points to the banking crisis and the issues around fractional reserves. In his view, such concerns are likely to be “shining a light” on Bitcoin’s attributes. On what could happen next for BTC, he opined:

    Relative strength vs. most assets may portend Bitcoin’s inflection toward global digital collateral and potential to trade more like gold [and] US Treasury bonds. Central banks still tightening despite plunging commodities and a banking crisis adds to severe economic-reset risks.”

    Last week, McGlone pointed to the events in the finance and banking industry as a factor that could aid Bitcoin’s march towards becoming more of a hedge asset. Continuing weakness in the banking ecosystem portended a scenario where the benchmark cryptocurrency eventually trades like gold and US Treasury long bonds.

    Bitcoin’s resilience above $25,000 would be an indicator of its divergent strength, he added.



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