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cointelegraph.com Bitcoiners’ ‘bullish impulse’ on recession may be premature: 10x Research

It may be too early for Bitcoiners to start getting bullish over the longer-term impacts of a potential recession on Bitcoin’s price, says 10x Research head of research Markus Thielen.Thielen said in an April 11 markets report that credit spreads continue to widen, indicating that “recessionary concerns may be seeping deeper into the economy.”“Expecting a bullish impulse is too early,” he said.Bitcoin may face short-term headwindsWhile the long-term effects of a recession could be bullish for Bitcoin (BTC) — due to the monetary easing that typically follows US Federal Reserve rate cuts — Thielen warned that Bitcoin may face headwinds before gaining bullish momentum.“Normally, Bitcoin first sells off when China devalues or the Fed cuts, as the first cut might not be so impactful and also confirms economic weakness,” Thielen told Cointelegraph. Bitcoin is trading at $80,620 at the time of publication. Source: CoinMarketCapWhite House crypto and AI czar David Sacks said in an April 10 X post that it is “time for a rate cut” after the core Consumer Price Index increased 2.8% year-by-year for March, the lowest it has been since March 2021.CME Group’s FedWatch Tool shows a 64.8% chance of no rate cut at the Federal Reserve’s May Federal Open Market Committee meeting.Traders typically see interest rate cuts and monetary supply expansions as positively affecting asset prices, especially Bitcoin and other cryptocurrencies.However, Thielen said that historically, when year-over-year credit spreads “begin to widen,” Bitcoin often faces more downside pressure and takes longer to recover.Related: Bitcoin ‘significantly de-risked here’ as nearly 80% of cyclical price correction is done — Analyst“This pattern suggests that while a longer-term opportunity may emerge, Bitcoin could still face pressure in the near term,” Thielen said. He added that currency devaluations have also historically been bearish for markets in the short term before being bullish in the long term.It comes amid growing concern among market participants over the weakening US dollar.The US Dollar Index (DXY) is sitting at 100.048, down 2.92% over the past five days, according to TradingView data. The DXY is sitting at 100.337 at the time of publication. Source: TradingViewTrading resource account, The Kobeissi Letter, said in an April 10 X post, “The US dollar has exited the room. Once again, something is broken.”Meanwhile, BlackRock’s head of digital assets, Robbie Mitchnick, said in late March that Bitcoin would most likely thrive in a recessionary macro environment. “I don’t know if we’ll have a recession or not, but a recession would be a big catalyst for Bitcoin,” Mitchnick said.Magazine: Memecoin degeneracy is funding groundbreaking anti-aging researchThis article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.

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news.bitcoin.com XRP ETF Odds Jump to 95% as SEC Shows Positive Signals, Bloomberg Analysts Say

Bloomberg analysts project XRP’s ETF approval odds at 95%, igniting powerful institutional momentum poised to reshape crypto markets and thrust digital assets into mainstream financial dominance. XRP ETF Nears SEC Approval With 95% Odds, Say Bloomberg Analysts Mounting anticipation is sweeping across the crypto market as multiple digital assets, including XRP, edge closer to potential […]

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news.bitcoin.com Markets Enter Uncharted Chaos as Iran Strike Forces Brutal Portfolio Resets

Intensifying Middle East conflict and surging geopolitical risk are igniting a dramatic market realignment, driving investors into energy, defense, commodities, and inflation-protected assets as volatility erupts. Market Outlook Darkens With Soaring Oil and Heightened Middle East Tensions A destabilizing jolt has shaken global markets, fueling inflation fears and sector turmoil as military escalation intensifies in […]

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news.bitcoin.com From Bombers to Basis Points: Traders Eye Fed Rate Cut in July Amid Rising Tensions

As the globe fixates on America’s involvement in the escalating conflict between Israel and Iran, the probability of a July quarter-point rate cut by the U.S. Federal Reserve has edged up by a percentage point, reaching 15.5%. Rate Cut Radar Lights Up After U.S. Hits Iran’s Nuclear Facilities Just two days ago—after the latest Federal […]

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news.bitcoin.com $150 Oil on the Table: Goldman Analysts Warn as Iran Threatens Strait Shutdown

As conflict brews across the Middle East, U.S. airstrikes on Iran have reignited worries that Tehran might block oil flows through the Strait of Hormuz. Goldman Sachs analysts are now pointing to a growing risk premium in oil markets, with attention locked on threats to one of the world’s most vital shipping routes for energy. […]

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bitcoinist.com Texas Signs Strategic Bitcoin Reserve Into Law – Details

In a major development, the Texas State Government has officially signed a strategic Bitcoin reserve into law thereby diversifying its financial investment strategy. Following this event, Texas officially became the third US State to own a Bitcoin reserve fund under five months of the pro-crypto Donald Trump administration. Related Reading: Bitcoin In The Waiting Room […]

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news.bitcoin.com ‘You Have No Idea What You Own’: Bitcoiners Slam Sellers as BTC Wobbles Amid Middle East Conflict

Following the U.S. airstrikes against Iran on Saturday, the price of bitcoin slid beneath the $100,000 zone for the first time in 46 days. Bitcoin’s reaction has caused a wave of people to share their two cents on how BTC will continue to perform during the conflict in the Middle East. Bitcoin’s $100K Armor Cracks […]

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