The under is a direct excerpt of Marty’s Bent Issue #1269: “Interesting reaction out of the U.K.” Sign up for the newsletter here.

Is bitcoin diverging from traditional markets? Are people starting to wake up to the fact that the fiat system will not save them in times of crisis?

through Coinshares

Here is a chart that has been lingering in my thoughts all through the week. It was shared by the staff from Coinshares and highlights bitcoin buying and selling quantity within the U.Ok. earlier this week whereas the British pound was in free fall. As you may see, volumes exploded to simply underneath $900 million, reaching their highest stage in additional than two years. It is laborious to discern the intent of those that had been buying and selling bitcoin in dimension over within the U.Ok. It might have been folks seeking to make the most of rapidly creating arbitrage alternatives, folks seeking to promote bitcoin to get liquidity to service failing trades or folks seeking to buy bitcoin as a hedge in opposition to speedy foreign money debasement.




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