Based on Bijié Wǎng, Bitwise Research stated that Bitcoin's price currently reflects the most pessimistic global economic growth outlook since the FTX collapse and the 2020 pandemic shock. Andre Dragos, European Research Director at Bitwise Asset Management, used macroeconomic survey data from Sentix, ISM, and the Philadelphia Fed to show a significant divergence between Bitcoin's implied growth outlook and traditional macro indicators. The fear and greed index remains at 20, slightly above its annual low of 10. As of November 29, Bitcoin traded at $90,559, down 0.8% in 24 hours and down 3% year-to-date.
Bitwise Research: Bitcoin Price Reflects Most Pessimistic Global Growth Outlook Since FTX Collapse
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