US liquidity conditions have been negative for the past few months. Sure, if you remove the US numbers, global liquidity is positive lately. But sense the US is such a large portion of it, I think their negative liquidity move has probably caused a negative global liquidity move on average.
That negative trend is bottoming now, and will likely head higher from here. Bullish for Bitcoin, in USD terms.
I think global liquidity has continued rising but obviously the dollar is particularly important. Some of the weirdness might be due to the dollar trending against the global trend.
Bitcoin has tended to have much larger responses to increased global liquidity. I'm guessing that will continue being the case.
Seems to be the obvious answer.
But it hasn’t been the right one recently
US liquidity conditions have been negative for the past few months. Sure, if you remove the US numbers, global liquidity is positive lately. But sense the US is such a large portion of it, I think their negative liquidity move has probably caused a negative global liquidity move on average.
That negative trend is bottoming now, and will likely head higher from here. Bullish for Bitcoin, in USD terms.
I think global liquidity has continued rising but obviously the dollar is particularly important. Some of the weirdness might be due to the dollar trending against the global trend.