Bitcoin is now up 17% on the day in a outstanding present of energy. A few of that may very well be cash flowing from USDC into bitcoin on worries about Circle’s money place. These worries actually ought to have light after the assure on Silicon Valley Financial institution deposits however on the similar time, the worth motion is the message. Bitcoin is working as a secure haven and sooner or later the worth motion turns into the story.
Gold is up a lot much less at 2% but it surely’s additionally exhibiting itself to be a stable secure haven prior to now few days with a giant leap after a better low on the chart.
The message from each ties again to the Fed and the chance that charge hikes are executed and that charge cuts may quickly be on the desk. The Fed funds futures market is at 4.09% for yr finish.
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