Bitcoin Faces Correction as Institutional Demand Weakens Amid Macro Pressure: Bitfinex
With the possibility of renewed tightening rising, bitcoin is losing momentum and becoming more vulnerable to exogenous shocks and potential rate hikes. The United States and the broader global economy are facing an increasingly fragile macroeconomic backdrop. US inflation has risen to 3.8% year-over-year, per April consumer price index (CPI) data, and real wages have…