Bitcoin bulls could walk into a $1 billion liquidation trap as Bank of America warns multiples are about to compress
Bank of America’s newest market name reads much less like a typical bear forecast and extra like a structural warning about what occurs when markets cease paying premium multiples, even when earnings continue to grow. The agency argues that the S&P 500 stays “statistically costly” on 18 of 20 valuation metrics, with 4 near-record highs,…
