The U.S. third-quarter 2023 GDP growth exceeded expectations, triggering a broad decline in crypto-related equities, including major crypto firms and exchanges. The move highlights how macro data can drive significant shifts in a sector famed for volatility.
Investors expect the Federal Reserve to maintain a tight stance in the near term given the robust economic indicators, pressuring risk assets like crypto stocks. This environment has prompted further fund reallocation away from volatile crypto markets and toward more conservative positions.
Looking ahead, ongoing macro indicators will shape the trajectory of crypto equities. The central bank’s policy path is also likely to influence related stock markets.
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