Tomorrow sees a massive liquidity trap for Bitcoin as the US Treasury is quietly draining $77 billion from bank reserves
Bank reserves fell $77.579 billion on a weekly-average foundation final week ending July 29. Days later, the US Treasury borrowing estimate for July by way of September rose by $68 billion. The overlap places Bitcoin’s liquidity setup underneath scrutiny. Several forces moved throughout the Fed’s stability sheet, blurring any direct line from Treasury money to…
