Hopes Remain as Bitcoin Pulls Back From Its Price Surge

Written By: Marcus Wang

Edited by: Charmyn Ho

Macro and Overall Risk Sentiment

The past week was widely regarded as a defining one for near-term equity outlook, with the November CPI print and Federal Reserve’s December rate decision under the spotlight. It turns out that the CPI print surprised to the downside, reinforcing the narrative of peak inflation, while the dot plot from December’s FOMC meeting dashed hopes of a rate drop in 2023. After a roller-coaster week, equities ended up in red, painting a negative outlook for the near term as recession concerns began circling again.