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**Bitfinex Alpha | Phê Mua Đang Chờ Thời Cơ**
The bond market continues to show signs of stress as the yield curve inverts, indicating a growing risk aversion. Meanwhile, the cryptocurrency market remains under pressure, with assets such as Bitcoin and Ethereum struggling to regain their footing.
Despite these challenges, we remain cautious on our short-term outlook for risk assets. The recent surge in US Treasury yields is likely to exacerbate the already weak demand for emerging markets and high-yield bonds.
As a result, we do not see any compelling reason to rush back into the market with a strong buy recommendation at this stage. However, we continue to believe that a medium-term recovery is still possible once the global economy stabilizes and investors regain confidence in the market.
In other news, Galaxy Digital has received approval from the SEC to restructure its Delaware domicile and list on Nasdaq with ticker symbol GLXY. While this development marks an increased acceptance of digital assets by traditional US markets, it also highlights the potential risks associated with unregulated cryptocurrencies.
The recent collapse of Libra token, supported by Argentine President Javier Milei before plummeting over 90% in value, wiping out hundreds of millions of dollars in market capitalization, underscores the need for robust regulation and transparency in the cryptocurrency space.
In contrast, North Carolina is moving forward with a more cautious approach by introducing the Digital Asset Freedom Act, which will allow certain types of cryptocurrencies to be used for tax payments and transactions provided they meet strict standards for liquidity, decentralization, and long-term market integrity.
The ongoing debate highlights the need for clarity and transparency in the cryptocurrency space, as well as the importance of responsible investing practices.
In terms of Bitcoin’s recent recovery, we remain neutral on its medium-term prospects due to the risks associated with its highly volatile nature. While it is possible that a short-term rebound could occur if sentiment improves, our base case remains unchanged: we do not see any compelling reason to take an outright bullish or bearish stance at this stage.
We will continue to monitor market developments closely and provide regular updates on our outlook for the cryptocurrency space.
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Source: https://blog.bitfinex.com/bitfinex-alpha/bitfinex-alpha-phe-mua-dang-cho-thoi-co/
