Crypto's Fate Is Tied to Old School Finance
It's still too early to call a bottom amid what remains a risk-off environment.
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Show Notes
There's a narrative in the crypto space that digital assets are uncorrelated to other markets. In fact, the opposite is true. Francis Hunt returns to analyze Bitcoin's price action relative to forex markets, bonds, and U.S. equities. We could see a brief rally, but we're still in a "risk-off environment," says Hunt. "Do not become overly aggressive to the bullish side. People are going to call this bottom one cycle too soon." But it's not all doom and gloom from The Market Sniper. Hunt believes Federal Reserve policy is driving U.S. dollar strength, so he's trading the greenback. He walks Real Vision's Ash Bennington through his forex trades, noting that forex markets have been "the new crypto markets." Recorded on May 17, 2022.
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