Yesterday, the 10-year U.S. Treasury yield briefly surged to 5.36%, and BTC also fell below $83,000.
Lately, I’ve increasingly felt that when assessing crypto liquidity, you can’t focus solely on the probability of interest rate cuts.
Oil prices, inflation expectations, and Treasury yields also affect the cost of capital in the market.
Market expectations of rate cuts don’t mean that financial conditions have actually eased.
This is another factor I’ve recently realized needs to be considered while researching macro liquidity.
#BTC #crypto #宏观经济
Lately, I’ve increasingly felt that when assessing crypto liquidity, you can’t focus solely on the probability of interest rate cuts.
Oil prices, inflation expectations, and Treasury yields also affect the cost of capital in the market.
Market expectations of rate cuts don’t mean that financial conditions have actually eased.
This is another factor I’ve recently realized needs to be considered while researching macro liquidity.
#BTC #crypto #宏观经济