Bloomberg Intelligence senior macro strategist Mike McGlone announced the latest report on social media, which pointed out that even if the spot bitcoin exchange-traded fund (ETF) applied by BlackRock is indeed approved by regulators, the ETF will not be in the market. Launched in 2023.
In addition, Mike McGlone also pointed out that the Federal Reserve has announced at the recent FOMC meeting that it will “raise interest rates several times” this year, coupled with weak liquidity and potential stock market bearishness, these are contrary to recovery expectations, so the encryption market will still encountered upward resistance.