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Analyst: The recent crypto market has been greatly influenced by traditional finance, it is recommended to focus on trading cryptocurrency pairs

Analyst: The recent crypto market has been greatly influenced by traditional finance, it is recommended to focus on trading cryptocurrency pairs

Bitget2024/08/16 12:10
BTC+0.30%

Golden Finance reports, BitMex analysts say that Bitcoin's recent performance is worrying - it reacts strongly to negative news from traditional markets, but performs mediocre when positive macro news arrives. To navigate this uncertain environment - consider focusing on trading cryptocurrency pairs instead of dollar-based pairs. This strategy can help mitigate the risk of macro impacts and allow you to take advantage of the relative strengths/weaknesses in the crypto market. This week, Bitcoin performed more than 7% lower than Nasdaq and there was a surprising sell-off during Thursday's US trading session.

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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