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Gate.io Blog: What’s The Driver Behind The Lastest BTC Sharp Pullback?
Gate.io Blog: What’s The Driver Behind The Lastest BTC Sharp Pullback?
2021-11-24 10:05:18 UTC
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[TL; DR]
1. On November 22nd, U.S. president Joe Biden announced that he would nominate Jerome Powell for a second term as the Fed chair.
2. It’s expected that Powell will normalize monetary policy without disrupting the markets during his next four-year term.
3. Powell's re-election implied continuity in Fed policy and market expectations for Fed rate hikes were further consolidated.
4. Taper Tantrum and potential rate hikes may be among the reasons for the Bitcoin market's recent underperformance.
5. BTC plunge may also be credited to the SEC's rejection of Bitcoin spot ETFs.
6. The SEC has presented seven reasons for rejecting the Bitcoin spot ETFs.
[Keywords] Bitcoin, Federal Reserve, SEC, Bitcoin ETF, Jerome Powell
For more information on the specific analysis process, please read this blog:What’s The Driver Behind The Lastest BTC Sharp Pullback?
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1. On November 22nd, U.S. president Joe Biden announced that he would nominate Jerome Powell for a second term as the Fed chair.
2. It’s expected that Powell will normalize monetary policy without disrupting the markets during his next four-year term.
3. Powell's re-election implied continuity in Fed policy and market expectations for Fed rate hikes were further consolidated.
4. Taper Tantrum and potential rate hikes may be among the reasons for the Bitcoin market's recent underperformance.
5. BTC plunge may also be credited to the SEC's rejection of Bitcoin spot ETFs.
6. The SEC has presented seven reasons for rejecting the Bitcoin spot ETFs.
[Keywords] Bitcoin, Federal Reserve, SEC, Bitcoin ETF, Jerome Powell
For more information on the specific analysis process, please read this blog:What’s The Driver Behind The Lastest BTC Sharp Pullback?
Gate.io Blog
As a new information section of Gate.io, the Gate.io blog function will provide users with all-round investment support. It will offer the most timely information in the industry, as well as informative columns, exclusive research reports, interesting encyclopedia info, and other high-quality content. All of these combined will enable you to grasp the most valuable and high-quality information without leaving home.
We invite you to experience and bookmark this blog, in order to get essential investors tips.
Website: https://www.gate.io/en/blog/bloglist
*App will be launched soon, please keep an eye out for it!
Blog entry: “About-Gate Blog” at the bottom of Gate.io homepage.
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NOV 24
