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Bitcoin bounces hard: TBL Liquidity update and bitcoin's bull market stage

Including the biggest, most under-the-radar news of the year for the orange coin.

Nik Bhatia

Aug 8

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Dear Readers,

Are you enjoying the volatility? I’m going to be honest, and I hope it’s not rude, but if you aren’t, I’m not sure what you’re doing here. Investing in bitcoin is not for the faint of heart, and it certainly isn’t for those wishing for a calm, slow, and steady financial ride.

When people wonder why bitcoin has such large swings, the most obvious explanation is probably the correct one—if an asset goes from an academic cryptography paper to a $10 trillion asset (currently $1 trillion), would you expect the ascent to be stair-like, or instead something you might experience at Six Flags? The correct answer is the roller coaster because the reality is that no amount of steady climb can result in annual gains bordering on 1,000%. That also means select annual losses will be extreme, and days can wipe out an entire year.

Even if you’ve already accepted the above, technical levels are worth integrating, even if it is only for peace of mind. Some of you are actively trading, but many are just trying to appropriately stack and not get shaken out. Levels help. We’ll also touch on rates, the Fed, and bring you an important update on our TBL Liquidity indicator, which is proving to have some predictive power.

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Today’s topics

Bitcoin price action and support level
Is the economy really that bad?
TBL Liquidity update and analysis
Making sense of the regression between TBL Liquidity and the S&P 500
Fed cuts: how many?
The biggest news in bitcoin of 2024

Details are in the candles...

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