Bloomberg Analyst Reveals His Price Floor for Bitcoin (BTC), Says Not Allocating to Crypto Risky for Institutions

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Bloomberg Intelligence senior macro strategist Mike McGlone is setting a new potential price floor for the Bitcoin ( BTC ) bear market. In a new interview with crypto analyst CryptoBirb, McGlone says Bitcoin’s heavy breakdown from previous support levels was a strong sign that BTC was headed significantly lower. He says Bitcoin could drop down…

Dollar cedes some ground, bitcoin hunkers down

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SINGAPORE/LONDON, Nov 22 (Reuters) – The dollar retreated on Tuesday after rallying the previous day when investors rushed to the safe-haven currency on worries about China’s COVID flare-ups, while fears of fresh contagion from the collapse of crypto exchange FTX pressured bitcoin. The euro was up 0.3% at $1.0265 after an 0.8% loss on Monday,…

Marketmind: Wild oil ride amid China and crypto woe

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A look at the day ahead in U.S.and global markets from Mike Dolan.Turbulence in oil, China’s COVID crunch and unravelling cryptocurrencies make for uncomfortable reading for investors starting to parse what looks like a recessionary year ahead. Higher interest rates and slowing economies dominate most 2023 outlooks, not least Tuesday’s latest from the Organisation for…

Dollar steadies as China tightens COVID curbs

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SINGAPORE/LONDON, Nov 22 (Reuters) – The dollar steadied on Tuesday after rallying the previous day as investors flocked to the safe haven currency on worries over China’s COVID flare-ups, while bitcoin came under pressure after fears of fresh contagion from the collapse of crypto exchange FTX. The euro was up 0.14% to $1.0258 after an…

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