Swan Signal Live - A Bitcoin Show cover image

Swan Signal Live - A Bitcoin Show

Joe Consorti & TXMC | Global Recession Imminent? | EP 123

Aug 24, 2023
Joe Consorti discusses Bitcoin volatility, Binance sell-off. TXMC explains inflation effects, importance of hard money. Macro economy overview, US Treasury market, 3% inflation target. Banking crisis potential, Fed's debt spiral. How inflation affects society. Bitcoin volatility, Binance drama.
50:49

Podcast summary created with Snipd AI

Quick takeaways

  • The recent drop in Bitcoin's price could be influenced by selling from Binance, potentially indicating regulatory issues and their substantial BNB holdings on their balance sheet.
  • There is a debate regarding increasing the target inflation rate to 3%, with supporters emphasizing flexibility and critics highlighting the potential psychological effects on consumer behavior and the importance of trust and stability in the economy.

Deep dives

Binance and BNB Price

There are speculations that the recent drop in Bitcoin's price could be due to selling by Binance, the largest crypto exchange. Binance has faced regulatory issues and holds a substantial amount of Binance Coin (BNB) on its balance sheet. The BNB chart shows a significant support level around $220, suggesting Binance's interest in maintaining the price. BNB's price hovering above this level could be a cause for concern, and a breakdown could lead to further price drops.

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