Global & US net liquidity turning slightly higher since quietly bottoming in mid-August, thanks to increased Chinese liquidity injections & material drainage of the US overnight reverse repo market.
As expected, this is being reflected in the price action of #bitcoin.
A short term blip or a new trend underway?
TL;DR on Grayscale's win over the SEC today.
"The Commission failed to adequately explain why it approved the listing of two bitcoin futures ETPs but not Grayscale's proposed bitcoin ETP."
Source: https://www.courtlistener.com/docket/66681951/1208547574/grayscale-investments-llc-v-sec/
In a world where all roads lead to currency debasement it is wise to obtain assets that are both scarce and desirable.
You love to see it. 😍
49 today… 👀
Me every morning checking Bitcoin Podcasts to see if nostr:npub1k7vkcxp7qdkly7qzj3dcpw7u3v9lt9cmvcs6s6ln26wrxggh7p7su3c04l nostr:npub1cj94enk44kn5mvrcma4sp7jnlsgnn4em7rk3dh3jt4fzyqs3m02s560efa Greg Foss nostr:npub1s5yq6wadwrxde4lhfs56gn64hwzuhnfa6r9mj476r5s4hkunzgzqrs6q7z nostr:npub1d3f4m9dgvkdjxn26pqzsxn6lpfn78sxwllxyt8mp76q0a9zyyjlswhr4xv nostr:npub1a2cww4kn9wqte4ry70vyfwqyqvpswksna27rtxd8vty6c74era8sdcw83a Luke Gromen have done a macro update and finding that there is nothing new yet…
😂
This was a fun discussion. 🔥 nostr:note10rryfe6ahe38s7q4jvnjgun9jf2tzcslwn4etd6y0rq6ynq9yrssm8z498
Being bullish on #crypto instead of #Bitcoin because the latter "only" offers a decentralized, permissionless, store of value is like being bullish on Pluto because the Sun "only" offers heat and light.
Yes. This is just one of many Bitcoin attributes.
What I’m watching… 👀
With 3-month T-bills now yielding 5.33%—which is 3 bps above the Overnight Reverse Repo (ORR) Award Rate of 5.30%—a notable drop in the ORR has occurred since Wednesday, 8/23:
$129B.
Expanding net liquidity is generally positive for risk assets.
Hopefully it’s not just a short-term fluke.
UPDATE: From Aug 16th - Aug 23rd
US net liquidity roughly DECREASED by -$4.5B ... which is a relatively small amount.
Fed balance sheet: -$6.7B
ORR: +$19.8B
TGA: -$22.0B
👀
DYOR
The #Bitcoin monetary network is not about getting rich quickly, rather...
It is about preserving and growing purchasing power securely.
Few yet understand this.
#Bitcoin is a fantastic liquidity barometer.
So, if you want to know the general direction of worldwide liquidity, simply watch the price action of bitcoin. 👀 🌎 🌍
It’s as good a guess as any.
Behind the scenes, Bitcoiners are actively and courageously building the infrastructure for a better tomorrow.
Fiat brains, in the meantime, continue to panic and flail in their efforts to maintain the Keynesian status quo for just... a little... longer.
Who’s side are you on?
The choice is yours.
Have you considered working harder and stacking harder or nah?
Liquidity will continue being removed until all of the optimism—like oxygen—has been sucked out of the room.
#QE won’t resume in earnest until it is forced to resume.
You panic sell #bitcoin because it's a speculative trade.
I calmly buy #bitcoin because it is the greatest long-term savings vehicle humanity has ever seen.
We are not the same.