Bitcoin could be heading much lower, fund manager warns as $150 billion Treasury operation nears
CoinDesk
A fund manager warns that upcoming U.S. Treasury liquidity drains may cause Bitcoin's price to decline further.Summary
Michael Kramer, founder of Mott Capital Management, warns that Bitcoin may face additional downward pressure as upcoming U.S. Treasury bond and bill settlements are expected to drain approximately $150 billion in liquidity from the financial system between May 28 and June 5. Kramer highlights that Bitcoin often serves as a sensitive liquidity indicator, and when capital is pulled from the system to finance government debt, risk assets like cryptocurrency tend to suffer. The article notes that Bitcoin has already shown weakness after falling below key support levels, emphasizing that macroeconomic factors often exert more influence on crypto prices than industry-specific news.
(Source：CoinDesk)