The Liquidity Signal That Called Bitcoin's Drop Is Still Red
About this episode
Nik discusses the liquidity index that predicted Bitcoin's decline and the factors influencing current market conditions.
In this episode, Nik walks through our TBL proprietary liquidity index, explaining why the red signal flagged in late December and confirmed in January preceded Bitcoin's sharp decline below $70,000. He breaks down the four inputs driving the current liquidity contraction, with focus on dollar volatility and bond stress, the US-Japan currency relationship, and why early-cycle US credit growth remains the structural argument for improving conditions ahead.
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