Mike Magellan says Bitcoin's performance will underperform stocks
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Bloomberg analyst Mike Magellan stated that the glorious period of Bitcoin has come to an end, believing that Bitcoin is facing a negative situation compared to stocks, and attributing the rise in 2021 to liquidity. （Bitcoin Archive）
[Hammack: Prefers a Small but High-Frequency Rate Hike Approach]
Federal Reserve official Hammack stated that the current federal funds rate policy is not restrictive enough and that financial conditions need to remain tight. He prefers a smaller but more frequent rate hike approach. (Source: Jin10 Data)
Yilihua posted on X platform that the 4-hour level of Bitcoin has fallen below the 20 moving average, and all cycles except for the weekly line are in a downward trend. The correction market has not yet ended, and investors are advised to be patient and avoid frequent trading.
Bitcoin fell below $83000 after a mid week decline, offsetting the breakthrough gains in September. The market sell-off is dominated by perpetual contract traders and ETF holders, with continuous inflows of on chain funds and high profitability levels. （glassnode）
Crypto analyst Darkfost stated that the weekly average SOPR of long-term Bitcoin holders has risen to 1.25, and the monthly average has risen to 1.16, both higher than the annual average of 1.10, indicating that long-term holders are in a profitable state.
