Crypto
Bitcoin Rally Signals End of Bear Market Amid Debasement Trade Frenzy
The recent rally in Bitcoin has led some market participants to believe that the bear market is over. The shift from 'sell the rips' to 'buy the dips' trading regime suggests a change in investor sentiment.
US Treasury Secretary Scott Bessent's announcement to double long-dated bond buybacks after the 30-year Treasury yield hit a 19-year high has been interpreted as a step towards yield curve control and quantitative easing-like policy. This move fits into the monetary-debasement trade framework that Bitcoiners love.
Markets began shifting weeks before talk of an Operation Twist-style intervention. The joint US-Japan currency market intervention to support the Japanese yen had already dropped DXY and rallied gold.