Analyst Says Bitcoin Is Facing This Massive Headwind As It Hovers Above $30,000
Portfolio Pulse from Bibhu Pattnaik
Bloomberg's macro strategist Mike McGlone warns that incoming recessionary pressures could cause Bitcoin (CRYPTO: BTC) to retest the $20,000 level. He believes that liquidity continues to drain out of the markets, with many central banks outside of the U.S. increasing interest rates this month.
June 24, 2023 | 5:36 pm
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Bloomberg's Mike McGlone warns that recessionary pressures and draining liquidity could cause Bitcoin to retest the $20,000 level.
Mike McGlone believes that incoming recessionary pressures and draining liquidity from the markets due to central banks increasing interest rates could negatively impact Bitcoin's price, causing it to retest the $20,000 level.
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