In this clip from today’s edition of The Macro Show, Hedgeye CEO Keith McCullough breaks down Bitcoin’s volatility and behavior, as well as its Risk Range™️ Signal strength.
“Don’t forget that Bitcoin at $52,000 was in the 0th percentile of 3-month volatility... zero. Of course you’re going to get some volatility to come back, it’s Bitcoin. And Bitcoin is pro-cyclical, not counter-cyclical. So all you needed was a down-day in the S&P from it’s all-time highs, and whamo," explains McCullough, highlighting how he combines Bitcoin’s fundamental characteristics with his Quantamental signals.
“Bitcoin is at the low end of the Risk Range™️ Signal... what’re you going to do? You know what to do."