Crypto bankruptcy proceedings to slow massive selloffs that triggered the bear market – Kaiko | kitconews gold silver finance preciousmetals markets mining investing |
There could be a pause in massive liquidations that triggered this crypto winter, as many prominent players are not allowed to touch assets until bankruptcy proceedings are resolved, according to cryptocurrency market data provider Kaiko.
One major signal is bankruptcy proceedings in which lending firms like Celsius, Voyager, and 3AC are involved will pause the wave of outflows. The next big event for crypto will be how the market reacts to the Federal Reserve's likely 75-basis-point hike — the second rate increase of that magnitude in a row.
Bitcoin will likely remain sensitive to macro signals like the latest inflation data or unemployment numbers until global markets stabilize or inflation falls, and the Fed essentially neutralizes their monetary activity, Medalie pointed out.
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