TWD Gain Show Big Big Macro Change: Wetin E Mean for Bitcoin and Crypto Market Style
Taiwan dollar (TWD) show record jump of 8%, wey be di biggest single-day move for 20 years and pass oda Asian currencies by far. QCP Capital say di reason for dis move na because pipo dey expect US-Taiwan go do trade agreement and big Taiwan insurance companies wey get plenty US dollar dey do more hedging. Di jump too cause plenty buy flow wey make bank network spoil for Taiwan. At di same time, Korean won strong pass and gold price climb almost 3%. Both shows say di market dey change generally and pipo dey ask for safe place to put money because dem expect US dollar go weak and dia get more wahala for di world. All dis things fit mean say big money from around di world don start to shift, just like how Japanese yen price don dey change anyhow recently because interest rate different. Because of how di economy dey shake, big crypto investors like MicroStrategy continue to show say dem believe market go rise – dem buy 1,895 BTC, wey make dia total holding reach 555,450 BTC for average price of $68,550. QCP Capital talk say Bitcoin price fit no follow gold trends again or fit gain from di trade talks wey dey happen. For crypto traders, e important to watch how Asian currency and macro markets dey change fast, especially TWD, because dis signs fit show say volatility and money inflow dey come wey fit affect Bitcoin and other digital asset price soon.
Neutral
TWD wey rise like say e no get tomorrow plus di way Asian money just dey shake-shake, show say big change dey happen for economy wey go fit affect how money flow go enter small-small money like Bitcoin. Even as big-big investors like MicroStrategy dey show say dem still believe in Bitcoin by buying more, nobody fit say for sure wetin Bitcoin price go be for short time. Bitcoin fit either leave traditional safe place like gold or gain from new talk about trade, but no clear way don show yet. As FX market dey respond to how economy dey shift, traders suppose watch all dis tins well-well, because e fit make things shaky for short time. But as di signs no clear, di overall effect on Bitcoin price for now na just normal.