I'm bearish in the short and middle terms. BTC is under 50 and 200 EMA in the daily. If the inflation turns out to be transitory and the fed finds itself under zero pressure to taper its QE program, institutionals will continue to drive up crypto. The price action of BTC and alts are controlled by the macro environment. BTC is not digital gold - and not even gold seems to be gold despite inflation spiking. BTC moves with Nasdaq.
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