Many crypto players keep a close eye on macroeconomic data, getting easily startled by rate hikes and cuts, and even going a bit crazy. In fact, for cryptocurrencies, the market isn't short of money; what’s lacking is narrative rotation. People buy gold and silver enthusiastically, hitting new highs every day. But when it comes to buying Bitcoin, they run out of ammunition? Just a 1% increase in gold is enough to push BTC to a new high.
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Many crypto players keep a close eye on macroeconomic data, getting easily startled by rate hikes and cuts, and even going a bit crazy. In fact, for cryptocurrencies, the market isn't short of money; what’s lacking is narrative rotation. People buy gold and silver enthusiastically, hitting new highs every day. But when it comes to buying Bitcoin, they run out of ammunition? Just a 1% increase in gold is enough to push BTC to a new high.