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Hopes of a Santa rally both in the United States equities markets and the cryptocurrency markets are fading as traders continue to trim positions in risky assets. Market observers are concerned that the Fed’s rate hikes may push the economy into recession. Millionaire investors are the most bearish since 2008.
The majority of the participants in CNBC’s Millionaire Survey said they expect the economy to be “weaker” or “much weaker” at the end of 2023. They believe the S&P 500 may continue its decline in 2023, with 56% of the respondents expecting a 10% decline while a third anticipate a fall of more than 15%.
BITCOIN - BTC/USD
ETHEREUM - ETH/USD
BINANCE - BNB/USD
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