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What does the macro outlook for Bitcoin look like?
It’s easy to get caught up in the daily movements of Bitcoin’s price. But if you zoom out, you will see a straight-forward 100% increase in just 12 months. But this most recent rally above $120,000 is not just a crypto story. It’s also a macro story. What we are witnessing from a macro perspective right now, is a perfect cocktail of institutional adoption, favorable policies, and currency dynamics. The Fed’s pivot, a weaker dollar, and relief in real yields have given fuel to risk assets again. And there are still many catalysts that could swing Bitcoin’s price aggressively on either side. These are ... (full story)