Bloomberg Analyst Warns Crypto Faces a Lose-Lose Scenario

Crypto Insight Summary: Mike McGlone stressed that, since 2017, crypto has been performing poorly with increasingly high volatility levels, and that the reason behind this behaviour could be linked to a hawkish turn by the Federal Reserve and an overstretched SPX index valuation. McGlone Warns About Crypto’s Demise As The Fed Turns Hawkish Mike McGlone, Senior Commodity Strategist […] Crypto Insight Analysis: Direction: Bearish BTC / Bearish ETH Impact: Major Impact Horizon: Mid-term (1-8 weeks) Reasoning: Fed's hawkish stance and SPX overvaluation signal risk-off environment for crypto.