FTX crisis likely to spark a domino effect, macro analyst explains
Cointelegraph
Published Nov 11, 2022 01:00PM ET
Updated Nov 11, 2022 07:40PM ET
The repercussions of the cataclysmic FTX downfall are going to be broader than the crypto markets, as they will accelerate downward moves in stocks and commodity markets, according to Mike McGlone, senior marco analyst at Bloomberg.
“Bitcoin has been one of the leading indicators on the way up, and it’s a leading indicator on the way down. And it’s just broken down, so expect most dominoes to fall,” McGlone pointed out in a recent interview with Cointelegraph.
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Written By: Cointelegraph
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