There are a lot of signs showing that Bitcoin price action in the last two years was curiously and strongly tied to global liquidity. Here is the TIC data demonstrating US Financial Firms’ Claims on Foreigners (one slice of the global credit dynamics).
In May 2021, these assets shrunk significantly as the Eurodollars became increasingly scarce.
Simultaneously, Bitcoin also crashed hard.
Bitcoin movements now pretty much depends on the global banking operations and credit creation.
In May 2021, these assets shrunk significantly as the Eurodollars became increasingly scarce.
Simultaneously, Bitcoin also crashed hard.
Bitcoin movements now pretty much depends on the global banking operations and credit creation.