Or they have. I don’t know.
But it seems like the market is pricing in the possibility that rates are going to stay the same. Gold is down. TLT is down. Both forming that triangle formation and both fall. Bitcoin is falling.
Been waiting for the longest time for Bitcoin to trade more like gold. Rising bitcoin should be taken as a general belief that a certain segment of the market believes the dollar is going to implode. At least, I think we’ve marginally reached the point where Bitcoin will be seen as an alternative to the dollar. Still a very stochastic correlation between dollar confidence and Bitcoin price.
Really gotta pay close attention to how the price action is reacting to the news. I think we’re at the point where ultra bullish news is bullish, bullish news is bearish, bearish news is really bearish, and ultra bearish news will be earth shaking.
Everything hinges on inflation data this Friday, and what the minor fed speakers say.
Marginally bearish. A good time to sell calls. I don’t have an account that large, though. You can probably sell rips intraday and interday at this point.