Bitcoin Hits Its Stride As Dollar Weakness And Treasury Buybacks Fuel Hard-Asset Rally, Galaxy Analysts Call Bottom - TradingView
Bitcoin Hits Its Stride As Dollar Weakness And Treasury Buybacks Fuel Hard-Asset Rally, Galaxy Analysts Call Bottom - TradingView
Source: TradingView
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DW NOTE
Galaxy calling a Bitcoin bottom while the dollar weakens and Treasury buybacks continue tells you everything about how disconnected capital allocation has become. The Fed is holding rates flat through year-end because inflation hasn't hit target, yet somehow hard assets are rallying on the assumption of eventual easing. Meanwhile crude sits 20% below recent highs despite the Strait of Hormuz being effectively closed since last week — either the market doesn't believe the closure will hold, or it's pricing in a demand collapse that hasn't shown up in the data yet.