As you can see on the chart, BTC has always been heavily correlated with DXY performance.
Over the last few weeks I have found that the entire NFT / DEFI craze was just a bit crazy, and everyone got super bullish, even tho the possibility of a bull trap are still real.
Sure all on-chain metrics are bullish, but S2F isn't exactly holding very well (even tho it might in the future) and traditional markets like DJT, DJI, SPX, HYG, US100, VIX show that debt and equity markets can't live in a higher interest environment. No economic situation can last forever, and with the FED even just talking about tapering, you can see a major impact in the markets. Gold (and I assume BTC) will perform better in a recovery phase after a huge crash, but during a crash, they join the party as everyone flees into liquidity.
Over the last few weeks I have found that the entire NFT / DEFI craze was just a bit crazy, and everyone got super bullish, even tho the possibility of a bull trap are still real.
Sure all on-chain metrics are bullish, but S2F isn't exactly holding very well (even tho it might in the future) and traditional markets like DJT, DJI, SPX, HYG, US100, VIX show that debt and equity markets can't live in a higher interest environment. No economic situation can last forever, and with the FED even just talking about tapering, you can see a major impact in the markets. Gold (and I assume BTC) will perform better in a recovery phase after a huge crash, but during a crash, they join the party as everyone flees into liquidity.
