‘The Black Swan’ author says Bitcoin a poor hedge against market meltdown
Nassim Nicholas Taleb says gold still stands apart as a store of value.
Auto Added by WPeMatico
Nassim Nicholas Taleb says gold still stands apart as a store of value.
ETH’s onchain and derivatives data are looking stronger even as macroeconomic data remains concerning.
Bitcoin declined by a very similar amount following the halving in 2016 and before the 2017 bull run.
Bitcoin derivatives show traders’ morale is low, weakening the odds of a 20% rise from the $49,320 BTC bottom.
Global equity markets witnessed a massive sell-off, pulling Bitcoin and several major cryptocurrencies to unexpected lows.
Bitcoin may find buyers close to $56,000, benefitting select altcoins such as SOL, XRP, KAS, and AAVE.
Ethereum derivatives metrics show increased activity, indicating higher interest but not necessarily a bullish trend.
The valuation assumes continued aggressive Bitcoin buying by Microstrategy.
The sell-off in the global stock markets is casting a bearish shadow on the cryptocurrency markets, signaling near-term weakness.
Bitcoin’s price continues to correct, but BTC options markets reflect traders’ interest in the $62,000 level.
