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Persistent macro headwinds could delay Bitcoin bull market — ARK Invest

Published 09/07/2023, 04:42 PM
Updated 09/07/2023, 06:20 PM
© Mundo Crypto PR

It's been a whipsaw 2023 for investor sentiment, and even though equities markets have defied expectations, a recent report from ARK Invest highlights reasons why the remainder of 2023 could present several economic challenges.

ARK manages $13.9 billion in assets, and its CEO, Cathie Wood, is a strong advocate for cryptocurrencies. In partnership with the European asset manager 21Shares, ARK Investment first applied for a Bitcoin (BTC) exchange-traded fund (ETF) in June 2021. Its most recent request for a spot BTC ETF, which is currently pending review by the United States Securities and Exchange Commission, was initially filed in May 2023.

Federal Reserve natural rate of interest. Source: ARK Investment
U.S. nonfarm payroll revisions. Source: ARK Investment
Johnson Redbook retail sales index. Source: ARK Investment

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