Main takeout:
Bitcoin (BTC) rose 3.5% between June 7 and June 9, reaching $ 108,500. Despite this recent rise, as reflected in the BTC derivatives metric, the professional trader is remarkably carefully maintained. The extensive macroeconomic tension continues, and Bitcoin has a strong correlation with the stock market, limiting the possibility of short -term rise.
Some analysts expect Bitcoin to rally $ 150,000 as the US government increases $ 4 trillion in debt upper limit. However, it suggests that the Future Market data is a short -term hesitation, and may have misrepresented the potential supply shock of unfavorable macroeconomic signals and Bitcoin.
Since June 6, Bitcoin Futures Insurance has left near the typical 5% baseline of the neutral market. The recent price hike has not yet been significantly trusted among merchants. Nevertheless, it would be inaccurate to say that Bitcoin is especially pessimistic that Bitcoin is 3%, 3% lower than $ 111,965 on May 22.
Recent price movements have not been led by excessive leverage guess, the indicators of the healthy market foundation. However, if the fear of the economic downturn persists, Bitcoin will not maintain more than $ 110,000 considering the continuous correlation with the traditional stock market.
Currently, the correlation between Bitcoin and S & P 500 is 82%. In other words, the two assets moved in the same direction. This trend has been in place for the last four weeks. Correlation has changed over the past nine months, but investors still treat Bitcoin as a risky asset rather than a trusted hedge.
Bitcoin can fight a wider economic headworm
If the US trade war is strengthened, investors’ concerns are strengthened by previous cases, which negatively affects almost all asset classes, including stocks, oil and bitcoin. Nevertheless, Bitcoin is accurately designed for financial uncertainty. If the US government’s confidence in fiscal stability is deteriorated, risk awareness can move to Bitcoin’s favor.
OKX’s bitcoin long -range margin ratio shows shorts four times larger than four times. Historically, excessive confidence has increased by 20 times more than 20 times, while the level of less than five times is considered weak.
However, none of these indicators suggest that large -scale investors or market manufacturers are preparing to collide with bitcoin prices.
relevant: The strategy is to add 1,045 bitcoin to $ 1,045 recently when purchasing.
If investors’ trust in the US Treasury’s debt management capacity is continuously weakening, capital may end up with government bonds. Bitcoin can exceed $ 150,000 by capturing small parts of these leaks, unlike S & P 500, which has $ 22.5 of $ 22.5.
In the short term, as long as the US dollar remains as a preliminary currency in the world, the price of Bitcoin is vulnerable to fall pressure, especially if the economic downturn is confirmed. As a result, concerns about the World Trade War and the impact of high interest rates are likely to prevent Bitcoin’s short -term rise.
This article is for general information purposes and should not be considered legal or investment advice. The views, thoughts, and opinions expressed here are the author’s alone and do not necessarily reflect or represent the views and opinions of Cointelegraph.