macro

Bitcoin Decoupling From Nasdaq, Says Grayscale as 'Debasement Trade' Comes Into Focus: Rising Debt, Deficit 'Pushing' Investors to BTC, Gold - TradingView

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DW NOTE

Grayscale is calling bitcoin's recent move a "debasement trade" and pointing to the Nasdaq correlation breakdown. They're half right. The correlation is breaking — bitcoin is up 8.4% in the past month while the Nasdaq barely moved — but "debasement trade" is a polite way to say "the bond market no longer believes the US can fund a $1.4 trillion deficit without printing." Gold at $4,423 and oil at $91 say the same thing.

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Bitcoin Decoupling From Nasdaq, Says Grayscale as 'Debasement Trade' Comes Into Focus: Rising Debt, Deficit 'Pushing' Investors to BTC, Gold - TradingView

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