I’m more convinced now that we’re going much, much higher than I was a few weeks ago. The world is basically on the brink of economic collapse, and bitcoin is just chilling at 80k. The great decoupling will happen sooner than many expect. We’ve seen nothing yet!
Discussion
Been sitting here scratching my head looking at this then looking at bitcoin though
China dumping treasuries and buying gold
Gold has historically led BTC. It sniffs out liquidity first. Then BTC blows past it on a lag.
So gold sniffs liquidity, bitcoin sniffs market dumps?
Bitcoin is still seen by many investors as akin to a risk on tech stock and not a risk off asset. Smart people realize Bitcoin is the ultimate risk off asset…on its way to becoming a global reserve asset and the most pristine collateral one can hold. Just takes time for the rest of the market to figure it out. So for now, Bitcoin is highly correlated to the stock market.
63% and counting