Inside the macro chaos that’s shaping Bitcoin

With a market capitalization of $1.2 trillion, the crypto industry has become far too large not to be influenced by global macroeconomic events. The everchanging global geopolitical landscape affects not only Bitcoin’s price but the pace of the entire industry’s development.

Aside from intra-industry black swan events, Bitcoin has become increasingly sensitive to traditional markets. Its correlation to TradFi has become so high that analyzing its past performance and modeling future behavior is virtually impossible without macro analysis.

In this market report, CryptoSlate presents several key macro factors that could significantly impact Bitcoin in the months ahead.

None of these factors came as a surprise to the market — the Federal Reserve’s interest hike, the U.S. debt ceiling, and the collapse of regional banks in the U.S.

The compounding effect of these factors creates a chaotic environment that promotes volatility and uncertainty. Stocks have been reacting poorly, wiping billions from the market and threatening to make even more losses.

We take a deep dive into each of these factors, analyze the crypto market’s response to similar events in the past, and explore their potential impact on Bitcoin’s price.