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Here are three positive macro signs that are good for Bitcoin:

1. Oil has dropped below $65/bbl, breaking past recent range lows. This brings inflation down... and yes double edged sword as it also signals recession... but also makes economy more resilient.

2. 10 year bond yield closed at 3.99% on 04-04. This helps reduce inflation and reduce borrowing costs which spurs the economy.

3.The DXY at 102 is a tailwind for global liquidity, paving the way for stronger risk asset prices worldwide.

Short term pain, long term gain.

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Discussion

El Guiri 9mo ago

Just cross fingers that oil doesn't stay there as drilling has been slow for a while. It you see the number of DUCs drop in the next 6 months but no change in active rig count, expect this to potentially impact price the other direction in a couple years. One should be hoping oil stays above 55 unless there's some way to reduce frac costs. Look back at the headlines from 1997 about the era of cheap oil. That killed investment and everyone paid the price a few years later.

mattaroo 9mo ago

And its also interesting that Saudi Arabia announced this week that they are upping their production numbers.

El Guiri 9mo ago

Its always an interesting market to look at. Was amusing to see the tariffs on Guyana. Blanket approach maybe a little silly in that instance!

mattaroo 9mo ago

10% minimum on everyone!