Question: Could it be that the Debt Ceiling fight is actually what has been driving the recent strength in Bitcoin?
42 Macro and others have shown that BTC's performance is strongly linked to net liquidity. The fact that new debt is not being issued and the Treasury General Account is being drawn down means more net liquidity in the system(?). Could the resolution of this issue mean a (local) top for bitcoin?
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No, the two won't be directly connected. There are many other factors going into liquidity.
That's not to say markets won't use these signals somewhat irrationally to make choices, though.
