is struggling to stay above $41,000 — and more downside may be yet to come, according to Crypto Twitter.
His call looks more than prescient on a dire Monday that sees Bitcoin being weighed down by a looming FOMC meeting, where new inflation estimates could knock the price even lower. With numbers expected to come in around 8%, inflation looks well and truly here to stay. Bitcoin, as a result, could be financial collateral damage.Bitcoin Magazine's managing director Christian Keroles seems to have been right in his assessment during our"This market is a classic sell the news market.
Bitcoin has held up remarkably well over the last few weeks, shaking off a dip at the start of the Russian invasion of Ukraine and briefly reclaiming its yearly open of $45,000. Alas, economic reality once again seems to be catching up with cryptocurrencies, as investors fear that quantitative tightening is on the horizon.
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