The Turkish Lira and the Emerging Markets

The Turkish lira has almost doubled the realized volatility of bitcoin. There is a pretty clearsort of correlation and and causation, i believe, with the lyra and with the sort of cell off embe coin that we saw towards the end of the year. You have the glue, ally, is is the lever japanese retail. And then when you get a margin call, you liquidate, you know, your whatever. Other s Tou have such ust bit coin in order to meet those margicals. That's why you see this precipitous drop off in both lira and bitcoinsort of simultaneously. It's kind of almost a ticetic rebound.