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Author: Admin | 2025-04-28
The Bitcoin price has fallen more than -8.8% since Friday when Bybit suffered the biggest crypto hack in history. The flagship digital asset reached a peak of $99,493 late last week, only to retreat to roughly $91,500 at press time, marking a -5.5% decline since Monday. This downturn not only shatters Bitcoin’s attempt to hold above $95,000 but also places it on the verge of losing its critical 97-day trading range between $91,000 and $102,000. Notably, Bitcoin’s price has broken below the descending trend channel that has been in play since January 20.What’s Next For Bitcoin?Ari Paul, co-founder and Chief Investment Officer of BlockTower Capital, offered a wide-ranging view on Bitcoin’s trajectory and the broader macroeconomic environment. In a post on X, Paul touched on the potential for continued equity-market weakness and its knock-on effect on digital assets: “My market take: equities in for 4-15 months of pain (I’ll guess 9 months) tied to deflationary government policies (tariffs and mass layoffs mostly). Then it’s a political question – does Trump admin ‘capitulate’ and turn severely inflationary? In vast majority of similar cases in history the answer was yes, but just a low confidence guess to me currently.”Shifting focus to crypto, Paul emphasized that while cryptocurrencies may still display short-term correlations with equities, they are inherently on different cyclical rhythms: “What does that mean for crypto? I continue to think crypto and equities are on different cycles rhythms, but that doesn’t negate shorter term correlation. Alts probably follow equities down at least at first (but they’re already down so much, even versus 2021 prices, they may bottom well before equities.)”Speaking on Bitcoin, Paul predicts that the leading cryptocurrency will “act like a blend of gold and S&P 500,” adding, “if gold remains strong, than that would suggest Bitcoin would outperform losing
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