Bitcoin’s (BTC) Rise after Gamestops Tuesday Bitcoin Treasury strategy -Message just stopped shy over the $ 89,000 level, and things are now being led lower in US trade times Wednesday.
Just after the noon on the east coast, Bitcoin has drawn approx. 3% back from night over to $ 86,500. The Broad Market-Krypto-Benchmark Coindesk 20 index was 1.9% lower over the last 24 hours, with ether (ETH), Solana (Sun) and Aave fell about 3% -4% in the same period.
Price action happened with US risk assets showing weakness. The S&P500 and NASDAQ indexes fell 0.8% and 1.6%, respectively, reduced most of their winnings since Monday’s opening.
Fresh concerns about the US debt ceiling were perhaps threatened by the markets. The congressional budget office issued a warning today that the federal government may run out of money as soon as August if legislators do not raise the debt limit. US tariffs, ready to take effect on April 2, could also weigh on investors.
“Uncertainty about American trade policy and the broader political landscape remains in front of the mind,” said analysts at Hedge Fund QCP in a telegram broadcast. “The market still lacks clarity on the scope, timing and size of these potential actions. Until then, we expect more sideways volatility.”
Does gamestop bitcoin even buy bullish?
Bitcoin Bulls, meanwhile, is left again to scrape their heads as the price does not respond positively to news of yet another deep pockets planning to invest in the world’s largest crypto.
“Zombie companies like Gamestop ‘, which pulls a Saylor’ like one gone out of prison, would be a clear topping signal,” James Check said, first year and then again Tuesday night after GME’s announcement.
He reminded him that he said similar to public trader-mining workers when these capital-burning companies decided to stack Bitcoin beyond what their mining was providing.
“Three months ago, I couldn’t make a case for where this cycle of excess sales page comes as we saw on the 2022 bear market … I suppose in a few months, I will be able to make a case again.”
