Crypto on the edge – Inflation Jitters, Evergrande Wobbles
Markets are on the edge, torn in opposite directions by two big news events. Inflation hit 6.2% hitting earners and shoppers in their wallets. In response, Bitcoin was poised to smash through $69,420 before Evergrande headlines spoiled the party.
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Bitcoin got tantalizingly close to the mythical $69,420 level today as investors continue to seek exposure to Bitcoin to hedge against inflation. However, news that Evergrande may default on its next interest loan payments sent all global markets into a spin.
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