Alarming macroeconomic conditions are spreading to the markets
Rising inflation, the looming prospect of recession and geopolitical turmoil have forced investors to choose risk-averse assets. Last Wednesday, US Federal Reserve Chairman Jerome Powell reaffirmed the central bank's commitment to taming inflation even at the expense of the economic downturn.
And separate reports from the University of Michigan and the US Conference Board demonstrated consumer confidence in the weakening economy.
Meanwhile, the crypto industry spent most of Friday grappling with the latest fallout from Three Arrows Capital's liquidity problems and other events with Voyager Digital's (VYGVF) crypto broker, temporarily suspending all trading, deposits, withdrawals and loyalty rewards. It was also reported that the troubled crypto-lender Babel Finance hired the American investment banking firm Houlihan Lokey, a specialist in restructuring and problematic mergers and acquisitions.
BitBull's DiPasquale, who has seen a growing likelihood in recent weeks that bitcoin's support will leave much to be desired, was pessimistic about the rebound, despite the Fed showing some encouraging signs at the July meeting.
"The closing in June was not very optimistic, and July may remain intermittent if the FOMC meeting at the end of the month does not present any surprises.
https://coin-signal.com/ethereum/alarming-macroeconomic-conditions-are-spreading-to-the-markets-4/
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