With global liquidity – a term that encompasses the M2 money supply of all major economies – recently hitting a new all-time high of $95 trillion, one would ordinarily expect Bitcoin to exhibit phenomenal strength, given its high sensitivity to this key metric. Yet, the world’s leading cryptocurrency is currently moving in the opposite direction. The reason: growing probability of a recession. JUST IN: #Bitcoin falls under $58,000. pic.twitter.com/scEVe8kEuQ — Watcher.Guru (@WatcherGuru) August 4, 2024 Sahm Rule 🇺🇸 US Jobs Report (July) NFP: 114k (exp. 175k, prev. 206k, revised 179k)Unemployment rate: 4.3% (exp. 4.1%, prev. 4.1%)Earnings M/M: 0.2%(exp. 0.3%, prev. […]
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