Oh, darling! Wall Street and the global crypto market are positively quaking in their boots as the specter of a U.S. recession looms larger than a diva at a charity gala. The Trump tariff war and a delightful cocktail of economic instability have led to a rather dramatic sell-off in Bitcoin, which, if you must know, is currently flirting with the $82,862 mark. 💸
And let’s not forget the charming volatility of 5.5% over the last 24 hours, with a market cap that’s a staggering $1.61 trillion. Who knew financial drama could be so riveting? 📉
Some market analysts, bless their hearts, are predicting even more heartache ahead as Bitcoin dances in sync with the global M2 money supply. Isn’t that just the cherry on top? 🍒
US Recession Fears Lead to Major Crypto Market Panic
Top market analysts and research platforms are raising their glasses to toast the impending U.S. recession, as Trump escalates the tariff war while the Federal Reserve remains as firm as a well-pressed tuxedo amidst the persistent inflation. 🎩
Former PIMCO CEO, the ever-so-eloquent Mohamed El-Erian, has upped his U.S. recession probability estimate to a rather alarming 25-30%, from a mere 10% earlier this year. Meanwhile, betting platform Polymarket now forecasts a 38% chance of an official recession declaration by year’s end. Cheers to that! 🥂
The crypto market, bless its heart, has also been feeling the pinch, losing over $700 billion in investor wealth in just a week. Panic ensues as Bitcoin tumbles below the $80,000 mark. Oh, the drama! 🎭
Economist Alex Kruger, ever the optimist, suggests that the market could recover once Trump decides to soften his stance on tariffs or perhaps shifts his focus to tax cuts. A delightful thought, isn’t it? 💡
Could Bitcoin See a Drop to $70,000 Next?
Earlier today, Bitcoin’s price dipped below $80,000, sending shockwaves through the crypto soirée. Popular analyst Joe Consorti has shared a rather alarming chart showing how BTC is converging with the global M2 money supply, and it’s just $8K away from a full embrace. How romantic! 💔
The chart below suggests that BTC may experience a final drop to $70,000 before it decides to continue its upward trend. Isn’t that just the way? 📊
During the previous bull runs of 2017 and 2021, BTC experienced an average correction of 35% before the major rally. So far in this cycle, it has
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2025-03-11 22:01