Bloomberg Strategist: Bitcoin/Gold Cross Index Falls, May Impact Risk Assets
Bloomberg Intelligence strategist Mike McGlone stated that the Bitcoin/Gold cross index has fallen compared to the SP 500 index. In January, the US spot Bitcoin ETF set a record for capital inflows, and subsequent declines in capital inflows may impact risk assets. The benchmark cryptocurrency hit a new high in the first quarter, but Bitcoin did not exceed its peak compared to gold and the SP 500 index in 2021. This type of 24/7 traded cryptocurrency is highly volatile and speculative. The last time when SP 500 e-mini futures broke through their 50-week moving average line in November, Bitcoin rose compared to gold, but this time the Bitcoin/Gold cross index is falling.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Dragonfly Partner’s heartfelt essay: Reject Cynicism, Embrace Exponential Thinking
The industry's focus is shifting from Silicon Valley to Wall Street, which is a foolish trap.
Vitalik's 256 ETH Bold Gamble: Privacy Communication Needs More Radical Solutions
He made it clear that neither of these two applications is perfect, and there is still a long way to go to achieve true user experience and security.
Polymarket: The Rise of Cryptocurrency Prediction Markets
Trending news
MoreCrypto prices
More
