Arthur from DeFiance thinks that the US stock market is currently rising a bit out of touch with reality. Once the sentiment reverses, the pullback could be severe. In contrast, "longing multiple currencies and shorting stocks" has become a more cost-effective hedging strategy. Moreover, the supply of USDC has reached an all-time high, directly explaining why Circle's stock price has recently surged so dramatically.
This narrative of "digital gold" fighting against macro risks is all too familiar. The US stock market is indeed dancing at a high level now, with risk premiums kept too low. Although theoretically, crypto assets should act as a safe haven, seasoned investors remember that if the US stock market truly crashes and triggers a liquidity crisis, the crypto market will likely face its own challenges in the short term.
However, the supply of USDC returning to its peak is indeed a solid indicator, showing that off-market capital is flowing back wildly. Regardless of whether the US stock market ultimately crashes or not, this move of accumulating liquidity in the crypto market is very honest. How long do you think this "decoupling" trend can last? #Macro #Circle #DeFianceCapital $BTC
This narrative of "digital gold" fighting against macro risks is all too familiar. The US stock market is indeed dancing at a high level now, with risk premiums kept too low. Although theoretically, crypto assets should act as a safe haven, seasoned investors remember that if the US stock market truly crashes and triggers a liquidity crisis, the crypto market will likely face its own challenges in the short term.
However, the supply of USDC returning to its peak is indeed a solid indicator, showing that off-market capital is flowing back wildly. Regardless of whether the US stock market ultimately crashes or not, this move of accumulating liquidity in the crypto market is very honest. How long do you think this "decoupling" trend can last? #Macro #Circle #DeFianceCapital $BTC