{"id":518276,"date":"2023-02-01T08:30:24","date_gmt":"2023-02-01T08:30:24","guid":{"rendered":"https:\/\/wncen.com\/?p=518276"},"modified":"2024-06-11T11:31:19","modified_gmt":"2024-06-11T11:31:19","slug":"time-to-sell-bitcoin-and-crypto-michael-burry-tweets-sell","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/time-to-sell-bitcoin-and-crypto-michael-burry-tweets-sell\/","title":{"rendered":"Time To Sell Bitcoin And Crypto? ‘Big Short’ Michael Burry Tweets ‘Sell’"},"content":{"rendered":"

Just hours before the U.S. Federal Reserve’s interest rate decision today, legendary trader Michael Burry issued a warning for the financial market that could affect Bitcoin and crypto as well. The “Big Short” investor tweeted a single word today, “Sell.”<\/p>\n

https:\/\/twitter.com\/michaeljburry\/status\/46215428<\/p>\n

Burry is known for being one of the few experts who predicted the subprime mortgage crisis from 2007-2010. He shorted the mortgage bond market in 2007 by swapping CDOs and made big profits.<\/p>\n

Already on Jan. 23, Burry shared<\/a> a chart of the market from the dot-com crash on Twitter and said “maybe.” He seemed to be circling a dead cat bounce, where the S&P 500 index rallied 20% over the turn of the year from 2001-2002 before falling another 30%.<\/p>\n

Today’s latest tweet can be interpreted that Burry is currently expecting a similar scenario, presumably triggered by today’s announcement of the Fed rate decision in the U.S. and the subsequent FOMC meeting<\/a> where Fed Chairman Jerome Powell will talk about the latest data and expectations.<\/p>\n

Related Reading: Santiment Explains Why Bitcoin Saw A Pullback During The Past Day<\/a><\/div>\n

Given Bitcoin’s correlation with the S&P 500 and macroeconomic influence, Burry could also be sending a warning signal to crypto investors. The S&P 500 and Bitcoin have rallied sharply from their lows since inflation data has come down sharply in recent months. However, an unexpected Fed decision could be a dagger.<\/p>\n

Nevertheless, it is also important to point out that Burry has not always been right with his forecasts in the past. In fact, Burry was wrong more often than right in the past, as a Reddit user revealed<\/a>.<\/p>\n

Bitcoin And Crypto Bulls Should Be Warned<\/h2>\n

While a whopping 98.4% expect the Fed to continue to slow the pace of rate hikes today, according to the FEDWatch Tool, this puts the market in a vulnerable state.<\/p>\n

If the Fed does surprisingly hike by 50 basis points and expresses concerns about “sticky” inflation, it could mean a massive crash for the S&P 500, Bitcoin, and the broader crypto market.<\/p>\n

Related Reading: Bitcoin Ready To Break Trough $24K, Vital Signs Provide Clues<\/a><\/div>\n

And there are growing voices that 25 bps is not yet set in stone. According to Bloomberg, hedge funds have built up record short positions in U.S. Treasuries ahead of the FOMC meeting. They expect yields to rise, the DXY to spike and the S&P 500 to crash – which could spell doom for Bitcoin.<\/p>\n

\"Trader
Traders are bearish on treasuries | Source: Twitter @TicTocTick<\/a><\/figcaption><\/figure>\n

But there are also strong voices in favor of a 25 basis point hike. Fed mouthpiece and Wall Street Journal chief economics correspondent Nick Timiraos said<\/a> in a tweet yesterday that “the ECI report is helpful for the Fed, which is on track to raise rates by 25 basis points this week.”<\/p>\n

He went on to say that “a slower pace of wage growth could ease concerns that wage inflation will settle at a frighteningly high level for a central bank targeting 2% inflation.”<\/p>\n

At press time, the Bitcoin price was at $21,113, remaining relatively stable with the FOMC meeting just hours away.<\/p>\n

\"Bitcoin
BTC price remains stable, 1-day chart | Source: BTCUSD on TradingView.com<\/a><\/figcaption><\/figure>\n
Featured image from iStock, Chart from TradingView.com<\/div>\n","protected":false},"excerpt":{"rendered":"

Just hours before the U.S. Federal Reserve’s interest rate decision today, legendary trader Michael Burry issued a warning for the financial market that could affect Bitcoin and crypto as well. The “Big Short” investor tweeted a single word today, “Sell.” https:\/\/twitter.com\/michaeljburry\/status\/46215428 Burry is known for being one of the few experts who predicted the subprime mortgage crisis from 2007-2010. He shorted the mortgage bond market in 2007 by swapping CDOs and made big profits. Already on Jan. 23, Burry shared a chart of the market from the dot-com crash on Twitter and said “maybe.” He seemed to be circling a dead cat bounce, where the S&P 500 index rallied 20% over the turn of the year from 2001-2002 before falling another 30%. Today’s latest tweet can be interpreted that Burry is currently expecting a similar scenario, presumably triggered by today’s announcement of the Fed rate decision in the U.S. and the subsequent FOMC meeting where Fed Chairman Jerome Powell will talk about the latest data and expectations. Related Reading: Santiment Explains Why Bitcoin Saw A Pullback During The Past Day Given Bitcoin’s correlation with the S&P 500 and macroeconomic influence, Burry could also be sending a warning signal to crypto investors. The S&P 500 and Bitcoin have rallied sharply from their lows since inflation data has come down sharply in recent months. However, an unexpected Fed decision could be a dagger. Nevertheless, it is also important to point out that Burry has not always been right with his forecasts in the past. In fact, Burry was wrong more often than right in the past, as a Reddit user revealed. Bitcoin And Crypto Bulls Should Be Warned While a whopping 98.4% expect the Fed to continue to slow the pace of rate hikes today, according to the FEDWatch Tool, this puts the market in a vulnerable state. If the Fed does surprisingly hike by 50 basis points and expresses concerns about “sticky” inflation, it could mean a massive crash for the S&P 500, Bitcoin, and the broader crypto market. Related Reading: Bitcoin Ready To Break Trough $24K, Vital Signs Provide Clues And there are growing voices that 25 bps is not yet set in stone. According to Bloomberg, hedge funds have built up record short positions in U.S. Treasuries ahead of the FOMC meeting. They expect yields to rise, the DXY to spike and the S&P 500 to crash – which could spell doom for Bitcoin. But there are also strong voices in favor of a 25 basis point hike. Fed mouthpiece and Wall Street Journal chief economics correspondent Nick Timiraos said in a tweet yesterday that “the ECI report is helpful for the Fed, which is on track to raise rates by 25 basis points this week.” He went on to say that “a slower pace of wage growth could ease concerns that wage inflation will settle at a frighteningly high level for a central bank targeting 2% inflation.” At press time, the Bitcoin price was at $21,113, remaining relatively stable with the FOMC meeting just hours away. Featured image from iStock, Chart from TradingView.com<\/p>\n","protected":false},"author":571,"featured_media":518281,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[428,1119,6664],"class_list":["post-518276","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-btc","tag-crypto"],"acf":[],"yoast_head":"\nIs It Good Time To Sell Bitcoin & Crypto?<\/title>\n<meta name=\"description\" content=\"Should I sell Bitcoin and Crypto now?Just hours before the Fed interest rate decision, Michael Burry issued a warning that could affect Bitcoin and crypto.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/wncen.com\/news\/time-to-sell-bitcoin-and-crypto-michael-burry-tweets-sell\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Is It Good Time To Sell Bitcoin & Crypto?\" \/>\n<meta property=\"og:description\" content=\"Should I sell Bitcoin and Crypto now?Just hours before the Fed interest rate decision, Michael Burry issued a warning that could affect Bitcoin and crypto.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/wncen.com\/news\/time-to-sell-bitcoin-and-crypto-michael-burry-tweets-sell\/\" \/>\n<meta property=\"og:site_name\" content=\"NewsBTC\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/newsbtc\" \/>\n<meta property=\"article:published_time\" content=\"2023-02-01T08:30:24+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-06-11T11:31:19+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/wncen.com\/wp-content\/uploads\/2023\/02\/iStock-1227621620.jpg?fit=1254%2C836\" \/>\n\t<meta property=\"og:image:width\" content=\"1254\" \/>\n\t<meta property=\"og:image:height\" content=\"836\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Jake Simmons\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@https:\/\/twitter.com\/realJakeSimmons\" \/>\n<meta name=\"twitter:site\" content=\"@newsbtc\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Jake Simmons\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"NewsArticle\",\"@id\":\"https:\/\/wncen.com\/news\/time-to-sell-bitcoin-and-crypto-michael-burry-tweets-sell\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/wncen.com\/news\/time-to-sell-bitcoin-and-crypto-michael-burry-tweets-sell\/\"},\"author\":{\"name\":\"Jake Simmons\",\"@id\":\"https:\/\/wncen.com\/#\/schema\/person\/d4fcdbfaec61dd668092ba3f4d318028\"},\"headline\":\"Time To Sell Bitcoin And Crypto? 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Through his extensive work with wncen.com and Bitcoinist.com, Jake has become a trusted voice in the crypto community, guiding newcomers and seasoned enthusiasts alike towards a deeper understanding of this dynamic field. His mission is simple yet profound: to demystify Bitcoin and cryptocurrencies and make them accessible to everyone. With a professional career in the Bitcoin and crypto scene that began right after graduating with a degree in Information Systems in 2017, Jake has immersed himself in the industry. Jake joined the NewsBTC Group in late 2022. His educational background provides him with the technical prowess and analytical skills necessary to dissect complex topics and present them in an understandable format. Whether you are a casual reader curious about Bitcoin or an investor seeking to navigate the latest market trends, Jake\u2019s insights offer valuable perspectives that bridge the gap between complex technology and everyday usage. Jake is not just a reporter on technological trends; he is a firm believer in the transformative potential of Bitcoin over traditional fiat currencies. To him, the current financial system is on the brink of chaos, propelled by unchecked government actions and flawed Keynesian economic policies. Drawing from the principles of the Austrian school of economics, Jake views Bitcoin not merely as a digital asset but as a crucial step towards rectifying a failing monetary system. His libertarian views reinforce his stance that just as the church was separated from the state, so too should money be freed from governmental control. For Jake, Bitcoin represents more than just an investment; it's a peaceful revolution. He envisions a future where Bitcoin fosters a sustainable and responsible financial framework for generations to come. His advocacy is not about opposition but about evolution, about laying the groundwork for a system that prioritizes transparency and equity over secrecy and inequality. As a journalist, Jake\u2019s articles are crafted with the precision of a scholar and the passion of a true believer. He provides not only news but also thoughtful analysis that connects the dots between daily developments and larger economic theories. His work is a beacon for those lost in the technical jargon often associated with crypto discussions, illuminating the practical implications and benefits of these technologies. In summary, Jake Simmons is not just reporting on a revolution; he wants to be part of it, fully committed to enhancing public understanding and adoption of Bitcoin and cryptocurrencies. His work is more than just a collection of articles; it\u2019s a resource, a guide, and a companion for anyone ready to explore the potential of this digital frontier. Whether you are taking your first steps into crypto or are a veteran looking to stay on top of the latest trends, Jake\u2019s insights provide clarity and foresight in an often unpredictable industry. Join him on this journey to reshape the world of finance, one post at a time. You can engage with his latest takes on Twitter: @realJakeSimmons.","sameAs":["https:\/\/x.com\/https:\/\/twitter.com\/realJakeSimmons"],"url":"https:\/\/wncen.com\/author\/marcusmisiak\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Time To Sell Bitcoin And Crypto? ‘Big Short’ Michael Burry Tweets ‘Sell’","url":"http:\/\/wncen.com\/news\/time-to-sell-bitcoin-and-crypto-michael-burry-tweets-sell\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/time-to-sell-bitcoin-and-crypto-michael-burry-tweets-sell\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/02\/iStock-1227621620.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/02\/iStock-1227621620.jpg?fit=1254%2C836"},"articleSection":"Cryptocurrency Market News","author":[{"@type":"Person","name":"Jake Simmons"}],"creator":["Jake Simmons"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["bitcoin","btc","crypto"],"dateCreated":"2023-02-01T08:30:24Z","datePublished":"2023-02-01T08:30:24Z","dateModified":"2024-06-11T11:31:19Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Time To Sell Bitcoin And Crypto? ‘Big Short’ Michael Burry Tweets ‘Sell’\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/time-to-sell-bitcoin-and-crypto-michael-burry-tweets-sell\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/time-to-sell-bitcoin-and-crypto-michael-burry-tweets-sell\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2023\\\/02\\\/iStock-1227621620.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2023\\\/02\\\/iStock-1227621620.jpg?fit=1254%2C836\"},\"articleSection\":\"Cryptocurrency Market News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Jake Simmons\"}],\"creator\":[\"Jake Simmons\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"bitcoin\",\"btc\",\"crypto\"],\"dateCreated\":\"2023-02-01T08:30:24Z\",\"datePublished\":\"2023-02-01T08:30:24Z\",\"dateModified\":\"2024-06-11T11:31:19Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/wncen.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/02\/iStock-1227621620.jpg?fit=1254%2C836","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/518276","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/users\/571"}],"replies":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/comments?post=518276"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/518276\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/518281"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=518276"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=518276"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=518276"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}