Bitcoin, Ethereum or XRP? Wintermute Picks the Safe Asset
BTC when published $82,514Now $80,617 ▼ −2.30% since it was published
Wintermute, the largest cryptocurrency market maker, has drawn a "red line" for digital assets at $82,500 for Bitcoin. According to the company's latest weekly report, the current price compression is unlikely to last: with the upcoming Fed meeting, the US midterm elections, and earnings season ahead, analysts openly state that "we don't think the range holds through them." The market is preparing for an inevitable volatility explosion that should end the prolonged lull this fall. The catalyst for market anxiety was US inflation accelerating to 3.7%. The monthly 0.3% rise in the core index confirmed that rising energy prices have begun to spill over into underlying inflation, triggering a 5.52% crash in the Nasdaq technology index.
First reported by U.Today. This page is a short excerpt; the full text is theirs.
