Lyn Alden Says Bitcoin's Cycle Low May Be Behind It After Leverage Flush - www.tokenpost.com
Lyn Alden Says Bitcoin's Cycle Low May Be Behind It After Leverage Flush - www.tokenpost.com
Source: www.tokenpost.com
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DW NOTE
Alden is right about the leverage flush — Bitcoin fell 47% from its January peak to July before recovering 38% since then. But calling a cycle low when the Fed is holding at 3.90% and the deficit is running at 6% of GDP isn't a technical call, it's a bet that fiscal dominance forces the next cut. The flush happened. Whether the bottom holds depends on whether Washington blinks first.