Confirming the strong economic pivot, Michigan’s Consumer Sentiment Index plunged to 50.2, a record low as far as the data goes back

The index has been a great predictor of recessions

DCA Reminder

This article is now more important than ever. DCA saves you when all models are broken. It’s the cure for volatile markets and high time-preference price guessing behavior. No one knows where the bottom is but #DCA ensures you will pick it up.

https://www.bitguide.io/post/dollar-cost-averaging-a-time-less-bitcoin-investment-strategy

@Bitguide

Three hours ago Binance paused all Bitcoin withdrawals due to “stuck transactions” which “should be fixed in ~30 minutes”. Go figure…

@Bitguide

Yield curve (2-10s) nearly inverted again. What else do we need to convince the Fed? a sharp CPI down turn will do

Coinbase cutting 18% of jobs or 1100 employees.

The layoff tide has hit criptoe shores hard

https://blog.coinbase.com/a-message-from-coinbase-ceo-and-cofounder-brian-armstrong-578d76eedb12

Will MicroStrategy get liquidated?

MicroStrategy has 115,109 bitcoin worth ~$2.5B
They have borrowed only $205M against it (and need to maintain a collaterial of $410M)
That is an 8% LTV
If bitcoin prices falls to $3,562, they will be called and then they can tap into other company assets as collateral
They have been very prudent with leverage

The speculation around Microstrategy margin calls are misinformed noise and reflect the highly emotional state of the market right now

@Bitguide

Monthly mortgage payments in the panic zone

Noteworthy:
- what is the human cost of the FED’s rate manipulation?
- what is the economic fall out of such major fundamental shocks?

@Bitguide

Home builders slamming the emergency break. Multi family starts down 26.8%.

Nice economic shock, Powell. Maximum employment and stable prices secured.

@Bitguide

Every Fed hiking cycle has led to a credit crisis and in every recent cycle the financial system has tolerance lower and lower rates. We are not far from 2018 levels.