Login with your ZeroHedge Premium account

Sign up here for the free newsletter

{{message}}

Subscribe with a new email
      Bitcoin and the dollar

      Remember the pundits telling you to buy BTC because of the dollar debasement logic? They got a o lot of things wrong, the dollar imploding being one of them. The BTC vs DXY (inv) chart contonues moving in tandem, but the BTC has actually lagged the latest DXY move...

      Bitcoin and the dollar
      Source: Refinitiv
      Size buying

      Garrett continues: "if everyone is so bearish, who is buying?"

      (un)natural answer = systematic community who have purchased ~100bn of global equities in the last 10 days.

      Size buying
      Source: GS
      You are consensus

      Goldman's derivatives guru Garrett: "if you’re bearish, you’re consensus … doesn’t mean you are wrong, but you are in the majority". On AAII sentiment he writes: "...investors have *never* been this consistently bearish… for 11 straight weeks, >50% or respondents have been negative on the market"

      You are consensus
      Source: GS