Hawks Start to Circle
Dec 16, 2021
• 7
Min Read
Key Takeaways
The Fed announced an expedited tapering of monetary stimulus and anticipates three rate increases in 2022. We discuss the implications.Based on recent price action, BTC still behaves more like a high-beta tech stock than an asset designed to offset the effects of inflation.This week, SOPR broke through to profitable territory. Short-term SOPR is lagging, which signifies that the market may need to shake out a few more "paper hands" before marching onward.At the time of writing, the total illiquid supply of Bitcoin is at an all-time high. Notably, 76% of the total circulating ...