Bitcoin is 87% correlated to global liquidity. The NASDAQ is 97% correlated.Which tells you something most people never realise. These assets are not really trading on earnings, or news, or whatever the story of the week is. They’re tracking the amount of money in the system.Bitcoin just swings harder around that line, because on top of liquidity it is young, volatile, emotional, and still riding a network adoption curve. Sometimes it runs hot. Sometimes it runs cold. Right now it is running cold, so people ...