Bloomberg's McGlone names three sell signals for bitcoin
- —Bitcoin traded at $76,805 on September 13 and at $77,640 by September 15
- —BTC gained more than 23% over the month but failed to break through $80,000
- —Fed rate futures price in roughly 70 bps of increases over a year
- —The S&P 500 closed at 7,619.98 on September 14, above its 200-week moving average
Why it matters: McGlone sees the correlation with equities and priced-in Fed tightening as a risk of a deep BTC correction, while Coinbase and Bitwise expect gains.
Source: The Crypto Times