Is BTC$ Leading Markets Down? And Will The Fed Re-Start QE?
The Fed ‘Put’ Returns… But Only For Repo!
The price action of the most liquidity-sensitive asset on the planet is looking bad: Bitcoin has plunged down through its 200-day moving average, without blinking. This seems a tad bigger volatility than historically, and pretty much scotches the ‘4-year’ cycle narrative. Evidence the chart below. Media pundits are gloating; many others are scratching their heads, but the underlying reason is that Global Liquidity conditions have deteriorated. So, where are we headed? Is Wall Street also under threat?
