Analyst: Macroeconomic Uncertainty May Put Pressure on Cryptocurrency in the Near Term

BlockBeats News, March 7th, Cryptocurrency Macro Analyst Noelle Acheson stated, "The yield spread between the U.S. 10-year Treasury yield and the 3-month Treasury yield has once again turned negative, leading to a yield curve inversion, implying that the U.S. economy may be heading into a recession, i.e., two consecutive quarters of negative GDP growth. This is typically not a good sign."

"We are still facing the tug of war between different narratives — on the one hand, due to macroeconomic uncertainty, risk-off sentiment may put pressure on Bitcoin (BTC) and other crypto assets for a period of time. But on the other hand, the 'safe haven' narrative is strengthening, and the bullish news from the White House further highlights an astonishing shift in official attitudes." (CoinDesk)