Short YouTube monologue by Ben Simpson analyzing a divergence: equity markets are reaching all-time highs while Bitcoin/crypto remain in an apparent accumulation phase. Simpson cites on-chain sell pressure suppressing crypto, but argues macro factors (slowing quantitative tightening, expected rate cuts per JPMorgan, continued money supply expansion, and gold’s price behavior with a ~188-day lag) point to an imminent upside breakout for crypto.
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The stock market is ripping to all time highs, yet bitcoin and crypto just will not break out of this accumulation phase. We've had above 100,000, 110,000 and cannot break out, although we had a great monthly close. What the hell is going on? Well, I just see on chain so much sell pressure that's occurred over the last few weeks that I think based on the fact that quantitative tightening is going to slow down, based on JP Morgan, we've got rate cuts coming, the money printer is still firing, we've got money expansion, the stock market is ripping, gold is ripped. If we look at all the macro levels, I am firmly in the belief that over the coming weeks we are going going to see a big breakout to the upside for crypto. I remain very confident with that. I do believe that we are still in a huge upwards trajectory. There's a lot of cell pressure going on and honestly there's something pushing the market down and I want to get into conspiracy theories but I am firmly believe in belief that we're going to track the M2 money supply and also the gold lag chart. If you haven't seen that, I might do another post on that. Bitcoin tracks gold pretty much to a t on the 188 day lag period with all these macro factors behind it and the suppression of the price. I do believe we're going to be getting a big breakout, the upside very soon. So keep an eye on it. All right, I'm going to keep this video here for evidence and hopefully see you soon.
