Bitcoin

Emerging market political instability often correlates with USD strength and capital repatriation, pressuring risk assets globally. However, crypto markets have decoupled from traditional EM in recent cycles, acting more as a digital gold proxy. The current macro backdrop—sticky inflation, rate uncertainty, and a fearful market—means that EM jitters could reinforce the existing ‘risk-off’ narrative, keeping BTC range-bound while altcoins bleed.

Podcast discusses fresh wave of political risk across emerging markets affecting financial assets and investor positioning