tells<\/a> his 512,000 YouTube subscribers that contracting market liquidity due to the Federal Reserve\u2019s hawkishness will likely keep Bitcoin in a bearish trend despite bullish crypto narratives.<\/p>\n\u201cAnd how is Bitcoin going to smash new all-time highs? I know some people say the ETF (exchange-traded fund) or they\u2019ll say de-dollarization, BRICS, or they\u2019ll say the Bitcoin bank run \u2013 all those narratives have fallen flat\u2026 <\/em><\/p>\nWe\u2019ve been one of the few channels who\u2019ve been preaching that point, that we\u2019re not ready yet. And it doesn\u2019t mean that things are absolutely going to collapse here today. It\u2019s not to say that the price for Bitcoin is going to [decline to $15,714]. That\u2019s not what we mean. <\/em><\/p>\nWhen we say things are going to collapse, when we say things are going to start correcting and that we\u2019ll have a continuation of bear market activity when it comes to price action, it means that we\u2019re going to enter into a long, steady grind to the downside, where people\u2019s expectations that were previously optimistic will get blown out. <\/em><\/p>\nAnd unfortunately, many people will get liquidated. They will lose that capital and a lot of that excess money in the system that is still causing inflation is going to be washed out and taken out of the hands of everyday people. We\u2019re going to go through a difficult period of time. That\u2019s just how it is guys. The Fed has a job to do.\u201d <\/em><\/p>\nMerten believes that equities along with Bitcoin and altcoins are all headed for a market correction due to challenging macroeconomic conditions.<\/p>\n
\u201cWe\u2019ve got to spend some time to talk about the calm before the storm. I believe we\u2019re on the cusp of a major move here, not only in Bitcoin and altcoins but the broader asset markets as a whole. A lot of macro uncertainty is finally coming up from beneath the surface\u2026 that could potentially cause a lot of pain in the economy.\u201d <\/em><\/p>\nBTC is trading for $27,179 at time of writing, down 0.5% in the last 24 hours.<\/p>\n