A $1.7T swing in metals is a massive liquidity event. But the framing as 'wiping out Bitcoin's market cap' is misleading. Bitcoin's market cap is not a daily P&L sheet.
The real analysis is how such volatility reflects on global risk sentiment and real yields—factors that impact all risk assets, but on their own timelines and for their own reasons.
The real analysis is how such volatility reflects on global risk sentiment and real yields—factors that impact all risk assets, but on their own timelines and for their own reasons.
