Bloomberg Analyst Mike McGlone Discusses the Latest Situation with Bitcoin – ‘The Calm Before the Storm’

While the Bitcoin price hovered around $95,000, Donald Trump’s striking statements on the economy and foreign policy stirred the markets.

Bloomberg Senior Commodities Strategist Mike McGlone, CoinRoutes CEO Dave Weisberger, and Macro Strategist James Lavish have all described the current state of the markets as “the calm before the storm.”

One of the program’s focal points was the Justice Department’s (DOJ) investigation into Federal Reserve Chairman Jerome Powell and signals of Trump’s interference in interest rate policies. James Lavish described the situation as “pure political theater,” while reminding everyone that the Fed’s primary duty is to protect the dollar’s credibility worldwide.

Strategists have warned that undermining the Fed’s independence could lead to a serious loss of confidence in global markets.

According to Weisberger, a “lack of interest” prevails in the market; smart money is quietly accumulating while small investors engaging in leveraged trading are being liquidated at every attempt. Experts, reminding that Bitcoin is still the 8th largest asset in the world, argued that the excessive association of Trump’s name with BTC could create pressure in the short term.

Experts agree that volatility in stock markets is currently unusually low, but geopolitical risks (Iran, Ukraine, Venezuela) could disrupt this at any moment.

*This is not investment advice.