Bitcoin Shows Signs of Recovery After FTX Collapse, But Macroeconomic Uncertainty Remains
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Bitcoin price and futures data show signs of recovery after FTX collapse, but remain far below 2021 highs.
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U.S. debt issuance and interest rate hikes spark institutional interest in Bitcoin as an inflation hedge.
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Bitcoin futures premium and GBTC discount narrowing reflect improving sentiment, but exchange risks persist post-FTX.
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Approval of a Bitcoin spot ETF could unlock GBTC holdings, triggering sell pressure on Bitcoin price.
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Current positive indicators likely reflect a return to normal rather than excessive optimism given macroeconomic uncertainty.
