Bitcoin eyes first death cross since June amid worsening macro outlook. reports godbole17
Bitcoin's daily charts showing death crosses
Goldman Sachs foresees the Fed raising borrowing costs at least four times by the end of 2022 versus the previous prediction of three rate hikes,. The investment banking giant also expects the central bank to downsize its balance sheet from July. Bitcoin peaked near $69,000 on Nov. 10 and has declined nearly 40% since. The cryptocurrency slipped over 12% in the last seven days to Jan. 9, registering its biggest weekly drop since early December. The impending death cross, coupled with the souring macro outlook, may bolster overall bearish sentiment.
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