A new report from Coinbase Research claims that macroeconomic pressure weighs heavily on the crypto market. Analysts expect the market to continue being vulnerable over the coming weeks because there are just too few catalysts to move the price upwards. This has a lot of investors nervous, with conditions changing globally.
Coinbase: Macro Factors At Play
Coinbase’s report underlined the rising dependency of the crypto market on broader economic events. In this regard, last week’s decision by the Bank of Japan to hike interest rates has been linked to the unwinding of yen carry trades that sent ripples through global markets.
Moreover, the renewed geopolitical tension in the Middle East appears to raise concerns over oil supplies, further muddying the water. These are not theoretical macro pressures; they do matter for investor sentiment and market stability.
According to analysts at Coinbase, leverage within on-chain…
