‘Big Short’ hero Michael Burry deletes his Twitter account after posting a cryptic market forecast – Crypto News Today

“Big Short” hero Michael Burry has decided to delete his Twitter account following a cryptic market prediction ahead of the Federal Open Market Committee (FOMC) meeting.

Burry’s tweet, which consisted of a single word, “Sell”, was shared ahead of an immediate reversal in cryptocurrency and traditional markets following the Federal Reserve’s announcement of an interest rate hike. 0.25% interest.

Burry’s tweet could have been a signal for investors to take profits, especially in the overheated cryptocurrency market after the short-term reversal started in January, and prepare for a potential market correction. His reputation as a hedge fund manager, who correctly predicted the 2008 housing crisis, added weight to his predictions, causing many investors to take notice.

Crypto’s reaction to the rate hike

Bitcoin, the world’s largest cryptocurrency by market cap, surged more than 3.5% within hours of the rate hike. Other major cryptocurrencies, such as Ethereum and Binance Coin, also saw significant gains.

Burry’s decision to delete his Twitter account after posting his cryptic market prediction has sparked speculation in the financial community. Some believe he may have deleted his account to avoid excessive attention from bullish investors, while others believe he may have simply lost interest in social media as he has previously deleted his account and all his content several times in the past.

Some analysts view the regulator’s action as dovish, despite Jerome Powell’s stance not to halt the rate hike cycle. Regardless of a series of consistent 25 basis point rises, the market is likely to remain bullish as long as no adverse macro data is released unexpectedly.