Bitcoin's Worst Week Since FTX Crash Signals More Pain Ahead [View all]
(Bloomberg) -- Bitcoin’s slide below $60,000 last Friday capped its worst week since the collapse of Sam Bankman-Fried’s FTX exchange in 2022.
The forces currently at play seem almost benign by comparison, but that’s raising red flags for analysts, who warn that the token’s modest rebound may prove short-lived as structural frailties are exposed.
Investors are fleeing Bitcoin exchange-traded funds, technical indicators have weakened, interest-rate expectations have shifted, and while today’s crypto winter is milder than previous editions, that could mean the worst is yet to come.
“I believe there is further downside,” said Griffin Ardern, co-founder of multi-asset manager Primal Fund. “We are still some way off a proper bottom.”
https://finance.yahoo.com/markets/crypto/articles/bitcoin-worst-week-since-ftx-102331607.html
A fool and his money....
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