Bitcoin nervously awaits Fed as Paul Tudor Jones says ‘clearly don’t own’ stocks, bonds

Bitcoin (BTC) stored traders guessing on Might 3 as markets awaited Might 4’s Federal Reserve feedback.

BTC/USD 1-hour candle chart (Bitstamp). Supply: TradingView

Tudor Jones says “no thanks” to shares, bonds

Information from Cointelegraph Markets Professional and TradingView confirmed BTC/USD hovering simply above $38,000 at Might 3’s Wall Road open.

The pair had stayed virtually static over 24 hours to the time of writing as volatility in shares dictated the temper. 

Amid multiple calls for a “capitulation” style event to hit both crypto and TradFi markets, there was an eerie sense of calm leading up to the Federal Open Markets Committee (FOMC) meeting, with news on U.S. rate hikes to follow.

Whereas some felt that markets had already “priced in” the anticipated 50-basis-point hike, veteran investor Paul Tudor Jones didn’t mince his phrases when telling mainstream media concerning the precarious nature of the financial system underneath present circumstances.

Chatting with CNBC’s “Squawk Field” section on Might 3, Tudor Jones informed viewers that it might not pay to personal shares or bonds.

“Clearly you do not need to personal bonds or shares, you begin with that,” he acknowledged.

“It is going to be a really, very unfavourable scenario for both a kind of property lessons. You possibly can’t consider a worse macro surroundings than the place we’re proper now for monetary property.” 

Tudor Jones, well-known for his Bitcoin funding and evangelism, additionally mentioned that the U.S. was coming into  “uncharted territory” by elevating charges throughout a interval of tightening within the Monetary Circumstances Index (FCI). 

FCI is a composite gauge of shares, credit score spreads and extra, and is a “excellent indicator of the overall power of the general financial system,” he defined.

“Extraordinarily delicate equilibrium”

The cautious tone from inside crypto circles likewise prolonged to Bitcoin hodlers.

Associated: ‘Extra probably’ BTC worth will hit $100K earlier than Bitcoin sweeps $30K lows, forecast says

In its newest weekly e-newsletter, “The Week On-Chain,” analytics agency Glassnode described BTC worth motion as being in an “extraordinarily delicate equilibrium.”

“The present market construction for Bitcoin stays in a particularly delicate equilibrium, with short-term worth motion and community profitability leaning bearish, while long-term traits stay constructive,” it summarized.

Glassnode additionally acknowledged calls for for a “capitulation occasion,” which on-chain indicators have been thus far not supporting.

“A capitulation occasion, alongside creating divergences in short- and long-term traits continues to make Bitcoin one of the fascinating property to watch inside this macroeconomic surroundings,” it added.

The views and opinions expressed listed here are solely these of the creator and don’t essentially mirror the views of Each funding and buying and selling transfer entails danger, it’s best to conduct your individual analysis when making a choice.