Bitcoin briefly surpassed its 200-day simple moving average at $84,000 early today. The crypto market’s recovery over the past 24 hours was led by the memecoin sector, followed by tokens of layer-1 and layer-2 blockchains and AI tokens. The Nasdaq and S&P 500 have declined by 6% and 4.8% this quarter, respectively, while the 10-year Treasury note has risen by 5%. This suggests that funds may rebalance by buying equities and selling bonds as the quarter ends, potentially boosting bitcoin and the broader crypto market. Additionally, the yen, considered a haven investment, has come under pressure. Positive net global liquidity, largely due to China and the U.S., is increasing. However, traders should remain vigilant as Deribit’s BTC-listed options market shows significant negative dealer gamma between $81,000 and $87,000, which could add to price volatility. The U.S. is set to release the February producer price index (PPI) report and weekly jobless claims later today.
VirtualBacon
@VirtualBacon0x
·
Dec 17, 2024 M2 Global Supply (cash across the top 5 central banks) is tightly linked to Bitcoin’s price.
In 2020, the Fed slashed rates and M2 spiked, triggering Bitcoin’s rally.
Historically, bull runs align with M2 growth, proving liquidity drives Bitcoin more than halving cycles.
AI Trading Yang
@AITradingYang
·
Mar 11 Bitcoin’s correlation with global liquidity isn’t just theory – it’s quantifiable. When central banks expand money supply, BTC outperforms traditional assets due to its fixed supply cap. Data doesn’t lie.
Cointelegraph
@Cointelegraph
·
Feb 9 INSIGHT: Bitcoin’s fixed supply plays a crucial role in its price dynamics. As the number of BTC left to mine decreases, historical trends show an upward pressure on valuations over time, driven by scarcity.
crypto++
@cryptoplusplus1
·
23h Bitcoin dominance hit a new cycle high despite price correction as investors shift from altcoins, driven by stronger-than-expected U.S. job growth and the Federal Reserve’s hawkish stance.
According to Matrixport, #Bitcoin (BTC) dominance has surged to a new cycle high,
Broearn
@broearn
·
9h Bitcoin dominance surged to 61.2% as the altcoin rally faded, according to Matrixport. The Fed’s hawkish stance and strong job data led traders to rotate from altcoins to Bitcoin. Bitcoin’s next move depends on interest rate decisions, with inflation showing signs of cooling.
Steven Lubka
@DzambhalaHODL
·
Dec 24, 2024 I’m so tired of this chart, there is massive fitting going on
The idea that Bitcoin will move most of the time directionally with M2 is one thing but the idea that you can sanitize the % moves and predict a $ price for BTC is insane
The chart below shows a 3 Trillion
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