MarketPR
The relief rally that had lifted $BTC off last week's lows is unwinding, and this time it is taking $FIAT — gold — and tech stocks down with it.
Traders are bracing for an incoming US inflation print, and the Fed under Kevin Warsh is showing no appetite to pivot.
When rate-hike bets rise, assets that are supposed to protect against different risks tend to stop protecting anything at all.
The Mechanism: One Trade Hitting Every Hedge The notable feature of the current selloff is not that bitcoin is falling — that is unremarkable — it is that $BTC and $FIAT are falling simultaneously.
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