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Coinbase Executive Warns of Macro Factors Threatening Crypto Markets

David Duong, Coinbase's head of institutional research, has warned that macroeconomic factors could negatively impact the crypto markets in the short term. Duong cites the strength of the US dollar and the hawkish stance of central banks around the world as potential headwinds. He suggests being defensive in the short term and highlights interest rate differentials as a key factor to watch, particularly as the Federal Reserve prepares to announce its decision on interest rates. However, Duong believes that the trading environment for digital assets should improve in the second half of 2023, as the Mt. Gox settlements conclude and investors turn their attention to Bitcoin's upcoming halving.

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