Currencies38131
Market Cap$ 2.26T-0.66%
24h Spot Volume$ 25.28B+4.87%
DominanceBTC56.55%+0.29%ETH9.55%+0.60%
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Bitcoin Faces Correction as Institutional Demand Weakens Amid Macro Pressure: Bitfinex


Bitcoin Faces Correction as Institutional Demand Weakens Amid Macro Pressure: Bitfinex

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The United States and the broader global economy are facing an increasingly fragile macroeconomic backdrop. U.S. inflation has risen to 3.8% year-over-year, per April consumer price index (CPI) data, and real wages have turned negative with long-term Treasury yields climbing to multi-year highs.

Amid a hostile macro environment, bitcoin (BTC) has pulled back and erased the gains from its early-month rally. This correction is further driven by weakening institutional demand and outflows from spot exchange-traded funds (ETFs).

Read the article at CryptoPotato

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