Lee has pointed to the fact that the median short interest in stocks has surged to the highest level in three years.
"Now we just need a positive catalyst. I think as long as inflation tracks better than expected, I think we’re in a good position to rally," he said. Fundstrat's Lee also believes that sharp corrections are normal during bull market cycles."There's a lot of top callers. To me, there's a good opportunity."
Last week, US Federal Reserve chair Jay Powell acknowledged that returning inflation to the much-coveted 2 percent target would take"longer than expected." This came after long-term inflation expectations spiked to the highest level in more than a year. According to the BofA credit investor April survey, inflation remains the top worry for investors. With that being said, nearly half of investors expect the central bank to pull off a soft landing.
On Apr. 17, the price of Bitcoin plunged below the $60,000 level just days ahead of the halving. The drop was partially caused by the diminishing odds of a June rate cut due to the most recent Alex Dovbnya is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets.
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