Bitcoin Bloodbaths, Big-Tech Battered As US Buck Bounce-Back Builds

Well that all escalated really quickly… Bitcoin, Bonds, and Big-Tech stole all the headlines today. Bitcoin collapsed almost 30% from its $40,000 highs… Ethereum crashed back below $1000… The yield curve continues to steepen, with 2s30s at its steepest since April 2017… Overall, cryptos gave back a huge chunk of their 2021 gains but as is clear ETH is still up over 30% and BTC up over 10% YTD… Bond yields were up for the 6th straight day (no positive bond price return days yet in 2021)… 10Y yields were up again today (only around 1-2bps) but testing back up to March spike … (full story)

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