Stablecoins may divert safe haven demand away from Bitcoin due to their low volatility.
Steve Sosnick is Chief Strategist at Interactive Brokers and Head Trader of IBKR Securities Services, the firm’s trading division. He joined Timber Hill, Interactive Brokers’ predecessor, in 1995 as Equity Risk Manager and options market maker, later leading the firm’s expansion into Canada and developing algorithmic trading strategies for stocks and options. He frequently appears on Bloomberg TV, CNBC, and Fox Business to analyze market dynamics including gold and crypto.
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