The following is an excerpt from a recent edition of Bitcoin Magazine Pro. Bitcoin Magazine Premium market newsletter. To be one of the first to receive these insights and other on-chain Bitcoin market analysis directly into your inbox Subscribe now..
Thursday, May 12, 2022 was the most exciting and lively day of the Bitcoin / Cryptographic market in months, with no shortage of volatility and horror from market participants. On the Bitcoin side, prices plummeted to a low of $ 25,300, then quickly rebounded and closed daily candles at $ 28,900. With the fall, as the Canadian objective Bitcoin ETF, which recorded the largest inflow date to date, has shown strong reaction from opportunistic investors looking to buy dips, it’s worth nearly $ 207 million. 6,902 BTC has been added.
Similarly, on Thursday, Coinbase traded the largest amount of Bitcoin in a day since May 19, 2021. This shows that a significant amount of Bitcoin has fallen into the hands of the most dominant spot exchanges in the United States. Looking at Bitcoin’s Coinbase 3-day volume bar, large spikes are usually signals of inflections near the local bottom or top. While it’s clear that there is an overall confluence of variables to consider when looking for an absolute market bottom, the massive surge in the spot market followed by Bitcoin’s over $ 30,000 bounce is promising. It’s a sign.
Bitcoin price and volume on Coinbase
This is in line with our macro view that the U.S. economy is in the midst of a significant slowdown in stagnation, damaging asset prices and reducing financial market liquidity as the Federal Reserve tightens monetary policy. I am. As consumers continue to squeeze their wallets, slowing economic activity will exacerbate the positive feedback loop of growth and diminished economic activity.
Our core dissertation is that this inevitably leads to additional fiscal and financial stimulus. The global economy has a record amount of debt, unable to cope with the sustained economic slowdown due to the mechanics of the debt-based monetary system we have found today. Service and refinancing required.
apply To access the full Bitcoin Magazine Pro Newsletter.
