$BTC has closed lower for five straight weeks, touching a 24-hour low of $73,510 on Binance after more than $1B in liquidations and five consecutive sessions of IBIT ETF outflows. With Fed funds futures pricing an 80% chance of a December rate hike, macro tightness is driving the screen.
The angle people are missing: US regulators just formally dropped a proposal to lower the cross-border Travel Rule threshold from $3,000 down to $250.
My read: Short-term spot prices are being driven almost entirely by macro leverage unwinds rather than crypto-specific policy changes.
Did you cut risk during this five-week drop or sit through it?
#BitcoinFiveWeeklyLosses
The angle people are missing: US regulators just formally dropped a proposal to lower the cross-border Travel Rule threshold from $3,000 down to $250.
My read: Short-term spot prices are being driven almost entirely by macro leverage unwinds rather than crypto-specific policy changes.
Did you cut risk during this five-week drop or sit through it?
#BitcoinFiveWeeklyLosses