Bitcoin and cryptocurrency prices have plummeted along with the stock market, and fell further after Tesla billionaire Elon Musk issued a surprise warning on Bitcoin prices.
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Bitcoin prices, which topped $100,000 per Bitcoin earlier this week, have plummeted to around $92,000, even as Wall Street investment banks made huge bets on Bitcoin being a game changer.
As Bitcoin and crypto markets currently brace for an “imminent” bombshell from Elon Musk predicted that it would plummet.
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Federal Reserve Chairman Jerome Powell is expected to help support Bitcoin prices until the end of the year. … (+)
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“As planned, the time for sale will come in the second half of the first quarter, as it does almost every other year… and we will wait for the re-emergence of positive statutory liquidity conditions in the third quarter,” the co-founders said. Hayes says. BitMEX, a pioneer in Bitcoin and crypto derivatives, later created the Maelstrom Investment Fund, it wrote in a blog post.
According to Hayes, the price of Bitcoin and the cryptocurrency market rise through periods of rising dollar liquidity and periods of falling as dollar liquidity declines, but he has previously argued that He predicted that the Bitcoin price would collapse around the time of the U.S. presidential inauguration.
“We still believe this is a potential negative factor that could weigh on the market in the short term, but we need to balance that against the dollar’s liquidity impulse,” Hayes said. “Bitcoin is currently flailing in response to changes in the pace of dollar emissions.”
Hayes said the Treasury’s general account was close to empty at the end of the first quarter, and the U.S. was close to the debt ceiling, which would worsen with the April 15 tax deadline.
Bitcoin prices fell this week as traders reassessed the Federal Reserve’s prospects for interest rate cuts in 2025, given the latest strong data showing the U.S. economy remains strong.
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Bitcoin prices have fallen slightly, but are still much higher than they were a year ago.
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“As the cryptocurrency market plunges deeper into the red zone, it appears that President Trump’s punishment, which some people predicted would occur after he took office, has progressed rapidly,” said the CEO of cryptocurrency payment platform Mercurio. Director Petr Kozhakov said in an email. comment.
In December, President Trump confirmed plans to establish a U.S. Bitcoin Strategic Reserve. President Trump told CNBC: “We’re going to do something great with cryptocurrencies, because we don’t want China or anyone else…But other countries are also accepting cryptocurrencies, and we’re going to do some great things with them. I want to go there,” he said.
“The market is no longer ecstatic that Bitcoin will usher in a new era in which even the US will hold strategic Bitcoin reserves. Instead, the US Federal Reserve may hold onto Bitcoin. In one sign, Bitcoin’s role as a hyper-risk-on, risk-off asset is resurfacing.”The rise in interest rates has lasted longer than previously expected. ”
