With the price of Bitcoin (BTC) demonstrating a largely sideways movement trend over the last seven days, senior commodity strategist at Bloomberg Mike McGlone has expressed concern over the flagship decentralized finance (DeFi) asset underperforming.
Specifically, McGlone stated that Bitcoin seems alone under the radar of the United States regulatory crackdown, which means that it should be outperforming most risk assets, but it isn’t, as he explained in a social media post shared on August 2.
Bitcoin acting out of order
According to the analyst, “in decline vs. the Nasdaq 100 Stock Index since the 2021 peak and April bounce, waning Bitcoin may presage rising headwinds for itself and the broad crypto market. ” Furthermore, he noted, if the asset “fulfills what some consider the fastest-horse-in-the-race mantra, it seems logical Bitcoin should outperform in an everything bull market,” but “it’s not.”
As he further specified, Bloomberg’s graphic indicates this might b
We współpracy z: https://finbold.com/commodity-expert-warns-bitcoin-may-be-in-trouble-heres-why/
