Bitcoin Reclaims $30K as the Macro Discussion Shifts From Inflation to COVID-19 to Growth

<p><span style="font-weight: 400;">Bitcoin is up just over 7% in the last 24 hours, following its first close below $30,000 since New Year’s Day. On this episode of “The Breakdown,” NLW proposes possible explanations for this reversal, including:</span></p> <ul> <li style="font-weight: 400;" aria-level="1"><span style= "font-weight: 400;">Competing concerns of Inflation and slow post-COVID recovery</span></li> <li style="font-weight: 400;" aria-level="1"><span style= "font-weight: 400;">Institutional interest in crypto</span></li> </ul> <p><span style="font-weight: 400;">A few weeks ago, headlines were centered around markets being nervous about inflation. Emergence of the Delta variant and its induced lockdowns, coupled with reports of unexpectedly slow growth in Q2 in China, casts doubt on the inflation concerns. Which concern will prevail and drive the next macro narrative?</span></p> <p><span style="font-weight: 400;">Many speculated non-fungible tokens would be a fleeting phenomenon, in fashion for a short period of time and then fading away. However, an investment round for NFT platform OpenSea raised $100 million. Is OpenSea’s success an indicator of renewed long-term investor confidence in crypto?</span></p> <div data-pm-slice="1 1 []" data-en-clipboard="true">--</div> <div>Enjoying this content?</div> <div> </div> <div>SUBSCRIBE to the Podcast</div> <div>Apple:  https://podcasts.apple.com/podcast/id1438693620?at=1000lSDb</div> <div>Spotify: https://open.spotify.com/show/538vuul1PuorUDwgkC8JWF?si=ddSvD-HST2e_E7wgxcjtfQ</div> <div>Google: https://podcasts.google.com/feed/aHR0cHM6Ly9ubHdjcnlwdG8ubGlic3luLmNvbS9yc3M=</div> <div> </div> <div>Follow on Twitter:</div> <div>NLW: https://twitter.com/nlw</div> <div>Breakdown: <a href="https://twitter.com/BreakdownNLW" rev= "en_rl_none">https://twitter.com/BreakdownNLW</a></div> <div> </div> <div>The Breakdown is sponsored by NYDIG <a href= "https://nydig.com/nlw/" rev= "en_rl_none">https://nydig.com/nlw/</a></div> <p><br /> <em><span style="font-weight: 400;">The