On May 20th, Bridgewater Associates founder Ray Dalio stated that Moody's downgrade of the US credit rating still does not reflect the true risks. He pointed out that the US government might address high debt by "printing money to pay debt", which would transfer costs in the form of currency devaluation, damaging bondholders' actual purchasing power. As all three major rating agencies have downgraded the US rating, the market has begun to reassess US debt risks.
Bitunix analysts stated that Dalio's "printing money to pay debt" risk is essentially accelerating funds seeking anti-inflationary and non-sovereign assets. Cryptocurrencies, with their decentralization and scarcity, have become potential safe havens. Under the intersection of credit risk and currency devaluation concerns, if BTC can maintain support at $100,000, it may explore the historical high of $110,000 in the short term.
Bitunix analysts recommend that investors can focus on mainstream cryptocurrencies like Bitcoin and Ethereum, and moderately allocate application tokens with characteristics of being decoupled from the US dollar and resistant to inflation. In short-term operations, investors need to pay attention to changes in bond market yields and US fiscal policy signals, as these will continue to influence market risk appetite and capital direction.
