Mike McGlone's Warning: Bitcoin Rally Might Provoke Fed Action 🚀

robot
Abstract generation in progress

After going quiet for a while, Mike McGlone is back. The senior commodity strategist at Bitcoin Intelligence has some thoughts. Bitcoin just took a hit. It fell from $119,111 to about $111,980. McGlone thinks we might see more drops.

Something strange is happening. Stocks up. Treasury yields climbing. Bitcoin soaring. Gold rising too. McGlone calls this mix "unsustainable" 📉 The market was getting too comfortable. Now volatility returns after a sleepy summer.

Here's what bothers him. Bitcoin keeps going up? Other risk assets too? This might spark inflation. Treasury yields could climb higher. Then what? The Fed might tighten things. Not exactly what Trump wants. He's pushing for easier money policies 🏛️

Michael Saylor isn't worried, it seems. Strategy just bought more Bitcoin. 430 BTC, around $51.4 million worth. They used various financial tools to do it - MSTR, STRC, STRK, STRF, STRD. Strategy now sits on 629,376 BTC. Kind of impressive. That's over $70 billion at today's prices 🌕

Crypto folks are watching closely. What's Bitcoin's next move? How might central banks react if digital assets keep showing strength? Not entirely clear. The dance between monetary policy and crypto performance remains fascinating. Worth keeping an eye on 🔥

BTC0.09%
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • Comment
  • Repost
  • Share
Comment
0/400
No comments
Trade Crypto Anywhere Anytime
qrCode
Scan to download Gate App
Community
English
  • 简体中文
  • English
  • Tiếng Việt
  • 繁體中文
  • Español
  • Русский
  • Français (Afrique)
  • Português (Portugal)
  • Bahasa Indonesia
  • 日本語
  • بالعربية
  • Українська
  • Português (Brasil)