26th September’s bitcoin ETF flows
It’s all the green light for global risk markets as US equities hit new ATHs for the 3rd time this week, helped by a rapid-fire of furious stimulus to resuscitate the long-struggling Chinese economy. This has led renowned macro observers to turn explicitly bullish on all risk assets in the interim, with a seemingly globally synchronized easing move that was reminiscent of the easy-money days from the QE era.
Crypto prices continued higher along with the rest of the risk complex, led by an outperformance of altcoins and ETH as signs that the current rally might have more staying power than the earlier ones. Naturally, crypto prices are still highly correlated to equity performance. However, investor sentiment seems to have flipped to a ‘buy the dip’ mode, and risk-reward favors a continued rally with no or little downside catalysts in sight at the moment.