The Bitcoin Price is Being Influenced by Economic Uncertainty

Bitcoin’s monetary competition is flailing as evidence mounts that the “everything bubble” will soon pop.The FRED Equity-Related Economic Uncertainty Index reached its sixth-highest reading ever today, as liquidity continues to dry up for risk assets. Spikes in this index typically coincide with significant drawdown periods in the S&P 500 Index.

FRED equity market-related economic uncertainty demonstrates fundamental macroeconomic issues and ultimately impacts the bitcoin price.
FRED equity market-related uncertainty corresponds with S&P 500 drawdown.

As inflation has reached 40-year highs in the U.S. (as well as high readings throughout the rest of the world)

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