brockm on Nostr: For what it's worth, I do not believe the reason why BTCUSD is up, is because we're ...
For what it's worth, I do not believe the reason why BTCUSD is up, is because we're seeing a flight-to-safety effect. I believe we are seeing the result of the market believing there's going to be lower rates now, and betting on the Fed pulling back from the tightening cycle. If you want to see this very clearly, just look at bitcoin's correlation to the NASDAQ today.
Published at
2023-03-13 18:17:55Event JSON
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"content": "For what it's worth, I do not believe the reason why BTCUSD is up, is because we're seeing a flight-to-safety effect. I believe we are seeing the result of the market believing there's going to be lower rates now, and betting on the Fed pulling back from the tightening cycle. If you want to see this very clearly, just look at bitcoin's correlation to the NASDAQ today. \n\nhttps://nostr.build/i/nostr.build_c1d7b684fba90e332e81b11c71e64b9c5c12f512afd3375659395f4e1ecf14ab.png",
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