There are a lot of signs showing that Bitcoin price action in the last two years was curiously and strongly tied to global liquidity. Here is the TIC data demonstrating US Financial Firms’ Claims on Foreigners (one slice of the global credit dynamics).
In May 2021, these assets shrunk significantly as the Eurodollars became increasingly scarce.
Simultaneously, Bitcoin also crashed hard.
Bitcoin movements now pretty much depends on the global banking operations and credit creation.
In May 2021, these assets shrunk significantly as the Eurodollars became increasingly scarce.
Simultaneously, Bitcoin also crashed hard.
Bitcoin movements now pretty much depends on the global banking operations and credit creation.
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Bitguide
Article about Ziya Sadr on Pleb Underground https://plebunderground.substack.com/p/ziya-sadr-prominent-persian-bitcoiner
Bitcoin Magazine folks sent us this photo from the Bitcoin Amsterdam event where they talked about Ziya on stage.
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Energy clearly points towards recession and disinflation
Baltic Dry Index back to 2020 levels
Oil and gas prices back to early 2022 levels
Oil futures in contango - meaning later deliveries are preferred over spot, i.e., no appetite for energy, production and recession fears
Read: slow growth,, higher unemployment, lower CPI, and Fed pivot
Baltic Dry Index back to 2020 levels
Oil and gas prices back to early 2022 levels
Oil futures in contango - meaning later deliveries are preferred over spot, i.e., no appetite for energy, production and recession fears
Read: slow growth,, higher unemployment, lower CPI, and Fed pivot
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As everyone is anxiously waiting for the Fed easing the monetary policy, this chart wonderfully establishes that rate cuts have not been historically a good sign for markets. Economy does not follow the Fed; rather Fed follows the economy.