What a difference a day makes in crypto. Just a short while ago it was all doom and gloom with traders coming to terms with a toxic macroeconomic environment of rocketing inflation, rising interest rates and economic growth ‘falling off a cliff’, against a backdrop of the continuing Russia Ukraine conflict.
It seems like it was a case of “buy the rumour, sell the news” when US GDP figures were released on Thursday, expected 0.5%, actual -0.9% a total miss of 1.4% lower than expected. Catastrophic you might think but as the saying goes, “markets can stay irrational, longer than you can stay solvent”.
