It seems more probable than not that the savings rate will drop even further over the coming months. It is not a good look for the US economy now and medium-term.
While this is currently not enough for the FED to reverse course, with numbers potentially worsening further in the coming months, it will become harder for the FED to tighten monetary policy.
In summary, last week, bitcoin’s price was trading in the opposite direction to equities. Still, I expect this decoupling to only be temporary, and that equities will give away some of their last week’s gains.
On the current price correction, substantial accumulation is happening, but at the same time, this has been met by bitcoin exchange net-outflows stalling and even, at times, net-inflows.
While we have seen a relief rally for bitcoin over the last few days and in the coming days price might rise even a bit further, it is too early to call the correction and ranging of the price over. Markets are still risk-off.
But on the positive side, this will give you more time to stack cheap sats.
Stay safe out there! Don’t trust! Verify! Make up your own opinion and consider multiple sources.
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