Crypto Bulls Just Got Their Macro Wake-Up Call: Here’s Why
An unprecedented surge in the Philadelphia Federal Reserve’s May Manufacturing Business Outlook Survey has jolted global risk markets and given crypto asset traders their clearest macro catalyst of the year. The Future New Orders diffusion index leapt by forty-plus points, a move that Julien Bittel, head of macro research at Global Macro Investor (GMI), called “literally” historic. Crypto Bulls Can Rejoice Bittel’s commentary on X framed the print with statistical precision: “Philly Fed data for May dropped yesterday – and the Future New Orders index just made history. Literally. …....
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A Bank of International Settlements (BIS) executive, Benoît Cœuré, says that crypto is “growing very fast” and ”becoming mainstream in different ways.” Emphasizing that decentralized finance (defi) is a “wake-up call” for financial regulators, he said countries “are likely to agree on a global framework for crypto next year.”
BIS Officer Sees Defi as a Wake-up Call for Regulators, Global Policy Expected Next Year
Benoît Cœuré, a member of the BIS Executive Committee who is currently....
In his latest market rundown, Amsterdam-based trader and educator Michaël van de Poppe warns that “retail isn’t here in the markets as of yet” and notes that the widely-followed Altcoin Season Index is still languishing around 29—well below the 50-point threshold that would signal a rotation out of Bitcoin and into the broader market. Against that still-cautious backdrop, Van de Poppe argues that the recent 38–42 percent rebound in the ETH/BTC pair is the first concrete sign of capital rotating down the risk curve, echoing on-chain data that show Ethereum clawing back ground after months....
Libra was the final wake-up call for central banks that prompted serious consideration of digital currency issuances, according to the head of the BIS Innovation Hub.
Bitcoin has been caught within the throes of a macro uptrend since March, despite the cryptocurrency facing immense selling pressure over the past month that has led it down from highs of $12,400. As of late, the crypto has been witnessing multiple ongoing events that have created some turbulence, although bulls have been stopping it […]
Bitcoin is facing a critical juncture as its macro retracement converges with a tight mid-range battle between $86,000 and $100,000. With bearish patterns confirmed and short-term support holding, the market now waits to see if bulls can reclaim momentum or if a deeper pullback is on the horizon. Bitcoin Confirms Macro Top: Bearish Phase Underway According to an update from Crypto Patel, Bitcoin appears to have confirmed a market top and is now transitioning into a broader macro retracement phase. The loss of a key bullish support level has shifted the market structure into a bearish....