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🟠CRISI CRIPTO: ETF NON SALVANO

🟠CRISI CRIPTO: ETF NON SALVANO

Giorno: 11 giugno 2024 | Ora: 22:00 L'esperto di oro Peter Schiff avverte che i compratori istituzionali di ETF non salveranno il mercato delle criptovalute, rendendolo ancora più instabile. Il prezzo del Bitcoin è sceso a $66.207, perdendo oltre il 5%. La speranza era che i dati positivi sull'occupazione negli Stati Uniti potessero spingere il prezzo sopra i $72.000, ma non è successo. Inoltre, il 19º giorno consecutivo di afflussi verso gli ETF di Bitcoin è terminato, con un deflusso di quasi $65 milioni. L'attenzione ora è rivolta ai dati macroeconomici degli Stati Uniti, in particolare all'indice dei prezzi al consumo di maggio, che potrebbero influenzare la politica futura della Federal Reserve.

Gold expert Peter Schiff warns that institutional buyers of ETFs will not save the cryptocurrency market, making it even more unstable. The price of Bitcoin has dropped to $66,207, losing over 5%. There was hope that positive employment data in the United States could push the price above $72,000, but it didn't happen. Additionally, the 19th consecutive day of inflows into Bitcoin ETFs has ended, with a outflow of nearly $65 million. Attention is now focused on US macroeconomic data, particularly the May consumer price index, which could influence the future policy of the Federal Reserve.

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Gold bug Peter Schiff recently took to X (formerly Twitter) to warn Bitcoin pumpers that institutional exchange-traded fund (ETF) buyers are not going to save them.

According to Schiff, this makes the cryptocurrency market "even more unstable" since he believes that all ETF buyers are future sellers. "In contrast, many spot buyers intend to hold their Bitcoin until it ultimately replaces fiat currencies," he added.

Earlier today, the price of the leading cryptocurrency dropped to an intraday low of $66,207, losing more than 5%.

Last week, Bitcoin failed to break above the $72,000 level despite strong buying pressure due to stronger-than-anticipated US jobs data. As reported by U.Today, US-based spot Bitcoin ETF recorded its second-biggest inflows to date last Tuesday.

However, Bitcoin's 19-day streak of uninterrupted inflows has now ended. On Monday, the ETF products saw nearly $65 million worth of outflows. BlackRock's IBIT failed to save the day with modest inflows of only $6.3 million.

All eyes on the US macro data

Bitcoin is expected to experience more volatility on Wednesday due to the upcoming consumer price index (CPI) report for May. The critical inflation reading will provide market participants with crucial clues about the Federal Reserve's future policy moves. Accelerating inflation figures will be another bearish headwind for Bitcoin (and vice versa).

The Fed is also expected to announce its interest rate decision on Wednesday. However, it is unlikely to trigger more volatility since rates are widely expected to remain unchanged.

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