Degenɘϱɘᗡ

What a week. If you're wondering why BTCUSD is still holding up quite strongly, for now:
- both US02Y, and US10Y are both down, with a little bit more on the long end bond yield. This is bull steepening, and is normally formed before a recession.
- However, T10Y3M is still negative (see image), and should be positive before a recession materialize (we aren't there yet).
- When we analyse the US bond yield, there are a few things to tell. You can divide it in:
  - expected inflation
  - expected economic growth
  - risk premium

The sting was in the tail. Weekly close (at Sunday evening CEST) was terrible.

There was a bear flag on the weekly BTCUSD, and it broke out bearish. My base case is that the bear market has started, and it's here sooner than I expected. Good luck!