Hi all, I can see that many of you aren't yet aware of the full GMI dashboard experience. I keep mentioning it but obviously many people miss the updates and don't see everything that happens on the platform. When you go to Data Center, click on Dashboards, then GMI. The whole world opens up to you there. Whether you're a free user, an MIT superfan, or a pro user, you all have your own experience. There is an unbelievable amount of information, data, dashboards, charts, and most importantly, intelligence compression that helps you understand what is actually going on. What matters to you? H

ETH vs BTC: what ETF flows look like once you correct for size

Comparing raw dollar ETF flows between $BTC and $ETH is misleading, as it just tells you which asset is bigger, not which one is seeing genuinely stronger relative demand. The fix: scale each day's net flow to that day's market cap, then sum across the window. This measures demand relative to size, at the prices that actually prevailed and not distorted by which asset happened to re-rate more over the period.

The result is a clear and consistent diverg

Guys, I know that I am spitting out Notes right, left and centre, so tell me if I need to slow down. Here, a few words on the oil market and Nvidia tomorrow ....

Good evening! A quick note ahead of a busy 48 hours. 

The economic D-Day is off to a good start, at least if you measure it from a markets standpoint. Cracks down, flat oil down.. and as I said on Monday, this is a GOOD ZONE to bet on oil prices and product prices coming down. The escalation is just behind us, nobody bets on a deal, and there are FEW people positioned for anything constructive

Explainer: Why Bessent cannot stop talking about repo markets (and why YOU should care)

This one is deliberately written for the readers who usually skip the plumbing sections. If words like “repo” and “swap spread” make your eyes glaze over, stay with me for five minutes, because this is quietly becoming the single most important machine in global finance.. and it explains basically everything Scott Bessent has done over the past months/quarters: the buybacks, the eSLR reform, the TGA story, even the FX intervention with Japan. It all serves ONE master.

This is a chart that I watch closely. Bitcoin got over two standard deviations oversold versus Nasdaq and is now sharply moving higher. Let's see but I think over time crypto should outperform the Nasdaq as suggested in my RV Pro article on the Great Rotation.

I understand that a few of you want a clarification on how today’s action by the US Treasury impacts my views, and how it rhymes (or does not rhyme) with the thesis I laid out yesterday on the curve steepening being GOOD for the cycle. Fair question, so let us take it from the top.

What actually happened: the Treasury announced that it is at least DOUBLING the size of its liquidity-support buybacks in the 10-20yr and 20-30yr sectors, from 2bn to at least 4bn USD per operation, effective from the 9th of September.. and it happened right after the 30yr printed its highest yie

A MUST READ ON BOND YIELDS AND THE ECONOMIC IMPACT..

My feed is absolutely FULL of people asking me some version of the same question this week: “Andreas, aren’t you worried about the rising long end in bond yields?” And my answer keeps surprising them: no.. I think a higher long end is outright NEEDED here, as long as it arrives via a steeper curve. I would be much more worried if the curve was flattening back towards the pancake shape we ran through the QE/ZIRP years, because THAT is the shape that kills the credit engine we now desperately need.

Let me

Hello legends,

Typically my posts will be put out bi-weekly, but with the current structure on $ETH I wanted to get this out before any major movement occurs.

Firstly, let’s take a look at ETH & its correlation with the Copper / Gold Histogram. 

The histogram has now flipped Bullish. The last time this happened ETH ran from $550 to $4,600.

Coincidentally, this ties in nicely with ETHs most recent low of $1,505.

Since then, price has been steadily grinding higher. If history repeats we are on the ca

@sarahw — I've been following your whole exchange with the RV Brain on the liquidity charts, and I wanted to reply properly, because you pushed on real things and the honest answer was to build, not argue.

Let me put the famous number in its proper place, because it isn't going anywhere: those two series are correlated ~85% over time. Fact. What your questions exposed is not that the number is wrong, it's that it needed context.

A correlation of levels is earned mostly by the shared trend, and the shared tre