Posted 4/16/2024, 5:50:00 AM
Analyst Warns of Growing Risks to Crypto and Stocks as Rate Cut Hopes Fade
- Analyst who predicted bitcoin's pre-halving rally now sees rising risk of correction in crypto and stocks due to high inflation and bond yields
- Traders scaling back expectations for Fed rate cuts this year from 6 to less than 3
- 10-year Treasury yield surpassing 4.5% may be a "tipping point" for risk assets like crypto and tech stocks
- Inflows into Bitcoin spot ETFs have dried up after an initial surge, removing price support
- Bitcoin rally so far largely driven by expectations of rate cuts, which are now fading