Bitcoin (BTC) slides under $ 94K while Nasdaq tries to shake the jitters last week
Bitcoin (BTC) continues to slide on Monday, hurt not only through massive bearish price action in most of the remaining crypto, but also US stocks that insist on pulling their recent collapse.
Falling at about $ 93,900 as stocks closed, Bitcoin dropped 1.9% in the last 24 hours. Ether (Ether) is less than 5.9% at the same frame time. The wider CoinDesk 20 Index dropped by 5.1%.
Following the major refusal last week, an attempt to rally of the major US stock averages failed Monday afternoon, with the NASDAQ closing another 1.2% and the S&P 500 0.5%.
The worst performer in major cryptos is Solana (Sol), down nearly 10% in the past 24 hours and a suspicion of 41% last month. In addition to its role in what appears to be a fading Memecoin Craze, Sol also faces token unlocks in March and a 30% increase in Sol Inflation due to recent SIMD-96 SIMPLE implementation, which adjusted to the network fee structure. At $ 151 at the time of the press, Sol was more than the given post-election obtained.
“Trying to talk to people who may feel satisfied/denying that $ 95,000 is still not a bad release price associated with which I think we can trade in 6-12 months,” Quinn Thompson, Founder of Lekker Capital, a crypto hedge fund that specializes in the use of macroeconomic data for its trading, Na -Post on social media.
Thompson estimated that there was an 80% chance that Bitcoin would not make new highs in the next three months and a 51% chance that we would not see new highs even in the next 12 months.
The US economy, Neil Dutta, head of economic research at Renaissance MacRo Research, said that The dangers in the labor market are growing. Real revenues slow down, the housing market deteriorates, the state and local government are returning to spending. Concerned, the agreed market does not see the economic slowing down, with a GDP median forecast by about 2.5%.
“If 2023 were about to be upside down, there was a greater risk of 2025 shocked by the fall,” Dutta wrote.
“A passive financial policy restriction is the dominant risk and has an important implications for financial market investors,” Dutta continued. “I look forward to a collapse at longer interest rates and a sale in equity prices as an appetite risks. For the economy, expect conditions that worsen the job market.”
