Today’s Nuggets
CPI Rattles Markets!
Oil Drives Large Chunk of CPI
Hong Kong is Coming for Bitcoin!
Grayscale Marketshare Diminishing
How Much of Bitcoin is Locked Up?
$6.11T on the Sidelines!
Longest Period Without a Sell Signal?
As a reminder for those interested in Bitcoin-only content, the playlist can be found here:
https://www.youtube.com/playlist?list=PLWTRLGkkf1kTTbIDdv-P6ykul7a8iUXYf
The countdown is down to single digits!
T-minus 9 days, 6 hours, and 17 minutes to go…
If you go to the official Bitcoin Halving clock, we are only one week, two days, and 11 hours from the Halving!
This is about four or five hours different from the previous one. It will be an exciting Friday, wherever you are in the world!
We cover this because macro and crypto are completely integrated.
The recent U.S. CPI data reveals that the trend is increasing, which scares the markets.
It does not matter how you measure it because the government measures it by looking back at about a year of inaccurate data.
It is all silliness…
…but the markets did respond!
They tanked.
The S&P 500 fell. Bitcoin fell, too, but only briefly before rebounding - likely due to wicking out some leveraged longs.
The irony is that inflation prints hot and Bitcoin goes down. Bitcoin is the inflation hedge - has been for a long time and always will be… because it is hard and does not debase!
Gasoline drives 40% inflation and the CPI.
Forty percent of the CPI is driven by gasoline because everything is made of fuel: plastics, water bottles, car tires, and the stuff used to get around.
Again, it makes no sense!
…but we understand how to interpret the signals and the data.
There is a lot more coming!
Now that we are past the initial 90-day window, every day, more firms are going to come in.
We are early and going up from here!
This is only five days from now and Hong Kong has a sense of urgency.
They know they need to be in before the Halving, which is the 19th or 20th of April, and they will do that.
When will they begin trading?
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