Bitcoin’s Biggest Intra-Market Risk Right Now
The monetary policy of the Federal Reserve (FED) continues to be the all-determining factor for both the financial markets worldwide and Bitcoin. With this in mind, all eyes are currently on November 02, when the next Federal Open Market Committee (FOMC) meeting is scheduled.
However, while this is an external market risk, there is also an internal market risk currently developing that should not be underestimated from a historical perspective: a Bitcoin miner capitulation event.
The lower Bitcoin falls and the longer the price stays at the current level, the more pressure is put on Bitcoin miners’ margins by a divergence of price and hash rate.