BTC's current signs unveiled by Bloomberg's senior strategist Mike McGlone
saw a 15% drop in the third quarter, while the Nasdaq 100 Stock Index recorded a 2% gain during the same period. McGlone believes that this difference might indicate something significant.could potentially be an early sign of a broader stock market downturn, possibly hinting at an upcoming recession.
Alternatively, it might simply mean that Bitcoin is losing ground compared to traditional stocks.One crucial factor McGlone points out is the impact of rising interest rates. Federal funds futures predict rates rising to about 5.42% in November, a significant change from the near-zero rates of 2021 and 2011. This shift could have significant consequences for Bitcoin and the financial markets as a whole.
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