6) My sense before:
Leverage: 0x
USD liquidity ready to deliver: 24x average daily withdrawals
Actual:
Leverage: 1.7x
Liquidity: 0.8x Sunday's withdrawals
Because, of course, when it rains, it pours. We saw roughly $5b of withdrawals on Sunday--the largest by a huge margin.
#Bitcoin - #BTC has been forming double bottoms since 2021. I don't understand why so many people have been bullish with their stance if the economy is a mess. At the end of the day, the double bottoms don't move the #markets, the economic conditions do.