bitcoin (BTC អ) kept investors guessing on May 3 as markets awaited May 4’s Federal Reserve comments.
Tudor Jones says “no thanks” to stocks, bonds
ទិន្នន័យពី Cointelegraph Markets Pro និង ទិដ្ឋភាពពាណិជ្ជកម្ម showed BTC/USD hovering just above $38,000 at May 3’s Wall Street open.
The pair had stayed practically static over 24 hours to the time of writing as volatility in stocks dictated the mood.
ចំពេល multiple calls for a “capitulation” style event to hit both crypto and TradFi markets, there was an eerie sense of calm leading up to the Federal Open Markets Committee (FOMC) meeting, with news on U.S. rate hikes to follow.
Everyone is waiting for Jerome Powell to come up tomorrow to have a speech of 45 minutes where he’s going to say absolutely nothing.
- ម៉ៃឃលវ៉ាន់ដឺប៉ុប (@CryptoMichNL) ថ្ងៃទី 3 ខែ ឧសភា ឆ្នាំ 2022
While some felt that markets had already “priced in” the expected 50-basis-point hike, veteran investor Paul Tudor Jones did not mince his words when telling mainstream media about the precarious nature of the economy under current conditions.
ថ្លែង to CNBC’s “Squawk Box” segment on May 3, Tudor Jones told viewers that it would not pay to own stocks or bonds.
“Clearly you don’t want to own bonds or stocks, you start with that,” he stated.
“It’s going to be a very, very negative situation for either one of those assets classes. You can’t think of a worse macro environment than where we are right now for financial assets.”
Tudor Jones, well known for his Bitcoin investment and evangelism, also said that the U.S. was entering “uncharted territory” by raising rates during a period of tightening in the Financial Conditions Index (FCI).
FCI is a composite gauge of stocks, credit spreads and more, and is a “very good indicator of the general strength of the overall economy,” he explained.
“Extremely delicate equilibrium”
The cautious tone from within crypto circles likewise extended to Bitcoin hodlers.
ដែលទាក់ទង: ការព្យាករណ៍បាននិយាយថា 'ទំនងជា' តម្លៃ BTC នឹងឡើងដល់ $100K មុនពេល Bitcoin ធ្លាក់ចុះ $30K
In its latest weekly newsletter, “សង្វាក់នៅសប្តាហ៍,” analytics firm Glassnode described BTC price action as being in an “extremely delicate equilibrium.”
“The current market structure for Bitcoin remains in an extremely delicate equilibrium, with short-term price action and network profitability leaning bearish, whilst long-term trends remain constructive,” it summarized.
Glassnode also acknowledged demands for a “capitulation event,” which on-chain indicators were so far not supporting.
“A capitulation event, alongside developing divergences in short- and long-term trends continues to make Bitcoin one of the most fascinating assets to monitor within this macroeconomic environment,” it added.
ទស្សនៈនិងយោបល់ដែលបានបង្ហាញនៅទីនេះគ្រាន់តែជាទស្សនៈរបស់អ្នកនិពន្ធប៉ុណ្ណោះហើយមិនឆ្លុះបញ្ចាំងពីទស្សនៈរបស់ Cointelegraph.com ទេ។ រាល់ការវិនិយោគនិងការធ្វើពាណិជ្ជកម្មទាក់ទងនឹងហានិភ័យអ្នកគួរតែធ្វើការស្រាវជ្រាវដោយខ្លួនឯងនៅពេលធ្វើការសម្រេចចិត្ត។
Source: https://cointelegraph.com/news/bitcoin-nervously-awaits-fed-as-paul-tudor-jones-says-clearly-don-t-own-stocks-bonds