Mar 10, 2023
Bitcoin Traders Unwilling to Go Bearish Despite Macroeconomic Pressure
As the Federal Reserve continues to increase interest rates and cryptocurrency regulations become more prominent, Bitcoin (BTC) traders have been feeling the pressure. On March 7, the price of BTC dropped 5.5%, and the inverted bond curve reached its highest level since 1981.
Rick Riede, Chief Investment Officer of Global Fixed Income at BlackRock, believes that the Fed will keep interest rates high for an extended period to slow the economy and get inflation down to near 2%. This week, BlackRock increased its forecast for U.S. federal funds to 6%.
The Biden administration is also seeking to apply the wash sale rule to crypto, which would put an end to a strategy in which a trader sells and then immediately buys digital assets for tax purposes. The Public Company Accounting Oversight Board (PCAOB) has also released a warning to investors about proof-of-reserves reports that auditing firms send out, noting that these reports do not provide any meaningful assurance.
Analyzing derivatives metrics can help us better understand how professional traders are positioned in the current market conditions. Margin markets provide insight into how professional traders are positioned, as they allow investors to borrow cryptocurrency to leverage their positions. The OKX stablecoin/BTC margin lending ratio has been relatively neutral since March 9, moving away from a situation that previously favored leverage long positions.
Options traders are also pricing in a low risk of extreme price corrections. The 25% delta skew compares similar call (buy) and put (sell) options and will turn positive when fear is prevalent. The indicator has remained in the neutral zone for the past month, indicating a balanced demand for bullish and bearish option instruments.
Given the enormous downward price pressure from a macroeconomic standpoint, as well as ongoing regulatory pressure in the United States, professional traders are unwilling to go bearish. This is evidenced by the margin lending ratio and the options data, which both show that the market is improving, but the structure remains neutral-to-bullish.
The NFT space has been booming in recent months, and many companies are turning to NFT marketing to promote their products and services. NFT marketing is a great way to reach a wide audience and generate interest in your brand.
Twitter is one of the most popular platforms for NFT marketing, as it allows users to easily share images and videos, as well as link to their websites and other content. Companies can use Twitter to create engaging posts, host giveaways, and promote their NFTs.
If you’re looking to get started with NFT marketing, it’s important to work with an experienced NFT marketing agency. A good agency will be able to create a comprehensive strategy to help you reach your goals and increase your NFT sales.
They can also help you create a promotional plan, create engaging content, and develop a marketing budget. Working with an agency can help you maximize your ROI and ensure that your NFTs get the attention they deserve.
Ultimately, NFT marketing is an effective way to promote your products and services, and working with an experienced agency can help you reach your goals and maximize your ROI.
Disclaimer: All investment or financial opinions expressed by MoonLanding Media are not recommendations and are intended for entertainment purposes only. Do your own research prior to making any kind of investment. This article has been generated based on trending topics, has not been fact checked and may contain incorrect information. Please verify all information before relying on it.
