The US dollar has reached its lowest level since 2023, prompting some investors to turn to bitcoin (BTC-USD). Matthew Graham, VC firm RYZE Managing Partner, joins to discuss the implications for cryptocurrency moving forward.
Graham cautions investors against "putting too much stock into that kind of trend analysis," dismissing such market analysis as "astrology for men." He emphasizes that macroeconomic factors are the primary drivers of Bitcoin’s price, describing the cryptocurrency as "a risk-on asset."
Regarding spot bitcoin ETFs, Graham characterizes their launch as "overly positive" for investors, calling it "one of the most successful" in years. However, he notes that the volume does not accurately convey investor interest.
#bitcoin #crypto #stockmarket
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