Bitcoin may face significant short-term pressures due to recession fears that overshadow its long-term bullish prospects. Thielen emphasizes that widening credit spreads reflect deeper economic concerns, suggesting it may be premature for Bitcoiners to expect an immediate bullish trend.
Historically, Bitcoin often declines before strengthening in the wake of Federal Reserve monetary easing. As the US Dollar Index shows signs of weakening, market participants remain cautious, anticipating potential challenges ahead for Bitcoin’s price.
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