We all know it’s a liquidity suck on ₿itcoin and cryptocurrencies, which are the most highly sensitive assets to liquidity, but have you ever dove into the data to see just how impactful it is?
I went through all the refills and calculated how much it drew down the CRYPTOCAP:BTC price.
Note how TGA refills also marked cycle tops in 2017 and 2021.
This really is something to closely monitor going forward alongside Total Global Liquidity (TGL).
What I have found is when TGA refills are occurring, they have more impact on the price of BTC than TGL.
We can see this in the current state of market, where TGL is at an ATH and the TGA is currently being refilled.
GOOD NEWS: The TGA refill is just about complete 🏁
Moon on brave soldiers 🌛
http://dlvr.it/TNJ3fB