Analyst: Macro pressures drag Bitcoin below $79,000, but capital outflows from fixed income markets may be a medium-term positive
ChainCatcher reports that crypto analyst Marcel Pechman stated Bitcoin rapidly retreated after being rejected at $82,000 on Friday, falling below $79,000. Its price movement is highly synchronized with the U.S. small-cap index, indicating that macro factors are the main driving force behind this round of decline. The Russell 2000 Index covers mid-sized and small companies with higher capital costs and greater sensitivity to interest rate trends. The high correlation between Bitcoin and this index shows that the market currently regards Bitcoin as a risk asset rather than a safe-haven tool.
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.
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