Bitcoin Macro Top May Already Be In: Yield Data Says So
BTC and the Nasdaq have set fresh dollar highs, yet both have failed to break their 2020-21 yield-adjusted peaks, leaving risk assets exposed if rates stay sticky and oil keeps climbing.
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BTC and the Nasdaq have set fresh dollar highs, yet both have failed to break their 2020-21 yield-adjusted peaks, leaving risk assets exposed if rates stay sticky and oil keeps climbing.
A sitting Fed chair using the phrase on the record keeps a hawkish lean in play going into the next FOMC, and BTC stays pinned to whatever the dot plot eventually prints.
The hawkish-Fed reversal of the scarce-asset trade is hitting all three simultaneously, and BTC just lost its 200-week moving average at roughly $60K.