Bitcoin nervously awaits Fed as Paul Tudor Jones says 'clearly don't own' stocks, bonds

Bitcoin (BTC) kept investors guessing connected May 3 arsenic markets awaited Wednesday's Federal Reserve comments.

BTC/USD 1-hour candle illustration (Bitstamp). Source: TradingView

Tudor Jones says "no thanks" to stocks, bonds

Data from Cointelegraph Markets Pro and TradingView showed BTC/USD hovering conscionable supra $38,000 astatine Tuesday's Wall Street open.

The brace had stayed practically static implicit 24 hours to the clip of penning arsenic volatility successful stocks dictated the mood. 

Amid multiple calls for a "capitulation" benignant lawsuit to deed some crypto and TradFi markets, determination was an eerie consciousness of calm starring up to the Federal Open Markets Committee (FOMC) meeting, with quality connected U.S. complaint hikes to follow.

Everyone is waiting for Jerome Powell to travel up time to person a code of 45 minutes wherever he's going to accidental perfectly nothing.

— Michaël van de Poppe (@CryptoMichNL) May 3, 2022

While immoderate felt that markets had already "priced in" the expected 50-basis-point hike, seasoned capitalist Paul Tudor Jones did not mince his words erstwhile telling mainstream media astir the precarious quality of the system nether existent conditions.

Speaking to CNBC's "Squawk Box" conception Tuesday, Tudor Jones told viewers that it would not wage to ain stocks oregon bonds.

"Clearly you don't privation to ain bonds oregon stocks, you commencement with that," helium stated.

"It's going to beryllium a very, precise antagonistic concern for either 1 of those assets classes. You can't deliberation of a worse macro situation than wherever we are close present for fiscal assets." 

Tudor Jones, good known for his Bitcoin concern and evangelism, besides said that the U.S. was entering  "uncharted territory" by raising rates during a play of tightening successful the Financial Conditions Index (FCI). 

FCI is simply a composite gauge of stocks, recognition spreads and more, and is simply a "very bully indicator of the wide spot of the wide economy," helium explained.

"Extremely delicate equilibrium"

The cautious code from wrong crypto circles likewise extended to Bitcoin hodlers.

Related: ‘More likely’ BTC terms volition deed $100K earlier Bitcoin sweeps $30K lows, forecast says

In its latest play newsletter, "The Week On-Chain," analytics steadfast Glassnode described BTC terms enactment arsenic being successful an "extremely delicate equilibrium."

"The existent marketplace operation for Bitcoin remains successful an highly delicate equilibrium, with short-term terms enactment and web profitability leaning bearish, whilst semipermanent trends stay constructive," it summarized.

Glassnode besides acknowledged demands for a "capitulation event," which on-chain indicators were truthful acold not supporting.

"A capitulation event, alongside processing divergences successful short- and semipermanent trends continues to marque Bitcoin 1 of the astir fascinating assets to show wrong this macroeconomic environment," it added.

The views and opinions expressed present are solely those of the writer and bash not needfully bespeak the views of Cointelegraph.com. Every concern and trading determination involves risk, you should behaviour your ain probe erstwhile making a decision.