If the U.S. Federal Reserve abandons its tight monetary policy and pauses rate hikes, positivity will return to stock markets. In that case, bitcoin and other digital currencies could recoup some of the losses incurred at the end of a bearish 2022, Bloomberg strategist Mike McGlone said.
And he believes that the BTC will almost immediately respond positively to the refusal of the U.S. regulator to tighten the monetary rate.
McGlone advises bitcoin traders to focus on the Nasdaq stock index, with which the largest cryptocurrency is correlated.