CryptoQuant: Traders are currently facing the largest unrealized loss rate since November 2022
According to 8MarketCap data, Bitcoin has fallen more than 16% in the past 24 hours, breaking through the support level of $57,000. However, it is still among the top ten global assets with a market value higher than Berkshire Hathaway. According to CryptoQuant analysis, breaking through the $57,000 support level indicates that the market may further probe into the $40,000 range. Currently traders are facing their largest unrealized loss rate since November 2022.
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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Deutsche Bank: After the three major central banks hiked rates simultaneously, the market may once again underestimate the terminal interest rate
Deutsche Bank points out that as central banks in the US, Europe, and Japan are tightening policy simultaneously, the market may still be underpricing the eventual terminal rates. With oil prices remaining high, inflation may spill over into core inflation and wages. Moreover, financial conditions have not tightened in tandem, which could weaken the effect of rate hikes. Citing the experience of 2022, Deutsche Bank notes that the market then expected a total of around 200 basis points of Fed rate hikes in the first year, but the final figure exceeded 400 basis points, illustrating that the market often underestimates the terminal rate.
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