Crypto market dumped hard today. Lots of economic data coming out this week. Maybe wall st has finally fully captured price action. I am getting concerned the 4 year cycle may have been changed in a way that is not apparent yet. It will always have an impact but I am not sure what it will be if it has changed. Of course the other option is the top happened and we are headed into a bear market (heavy doubt).
$BTC Daily Chart
$BTC Daily Chart
Does this mean the economic forecast is perceived to be stronger so people are moving their money to put it to use instead of holding bitcoin?
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it could, or it could mean they view crypto has risky and conditions are pointing towards risk off - if I had to make a rather weakly educated guess: the 'two movies, one screen" phenomena is present anywhere humans are involved including the investing market and half the economy thinks things are great and the other half is in a deep recessionary mind set