SPDR Bloomberg High Yield Bond ETFPembelian
BTC and JNK/TLT ratio
I plot BLX (which is BTC) along with JNK/TLT ratio.
JNK/TLT ratio is (Junk Bonds ETF) / (20 year bond ETF ) . This ratio can serve as an indicator, to show if the market is loving risk or loving safety on a macro level. Risk on to risk off ratio. You can see that the JNK/TLT ratio correspond with market bull & bear cycles. Notice the JNK/TLT tops form a trend line, and have some correlation with BTC tops - though not to the exact day or week.
I used the green box to mark a kind of fuzzy area, where the JNK/TLT did not top at the same time as BTC.
Notice the end. Will it touch the trend line as BTC tops out? Or Is it possible it plays out like the green box range, where BTC tops, and the JNK/TLT dances along underneath the trend line a bit further, because the stock market hasn't finished its run yet? Or did BTC top at 69k already? Make your own conclusions. I'm in alt coins. :-))))))
Green lines indicate JNK/TLT tops and red lines JNK/TLT bottoms. I then drew them up to BTC looking for correlation.
I learned this chart from "Game of Trades"
JNK/TLT ratio is (Junk Bonds ETF) / (20 year bond ETF ) . This ratio can serve as an indicator, to show if the market is loving risk or loving safety on a macro level. Risk on to risk off ratio. You can see that the JNK/TLT ratio correspond with market bull & bear cycles. Notice the JNK/TLT tops form a trend line, and have some correlation with BTC tops - though not to the exact day or week.
I used the green box to mark a kind of fuzzy area, where the JNK/TLT did not top at the same time as BTC.
Notice the end. Will it touch the trend line as BTC tops out? Or Is it possible it plays out like the green box range, where BTC tops, and the JNK/TLT dances along underneath the trend line a bit further, because the stock market hasn't finished its run yet? Or did BTC top at 69k already? Make your own conclusions. I'm in alt coins. :-))))))
Green lines indicate JNK/TLT tops and red lines JNK/TLT bottoms. I then drew them up to BTC looking for correlation.
I learned this chart from "Game of Trades"
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