The Bitcoin Layer Can NVIDIA’s EARNINGS JOLT Spark a Bitcoin Reversal?
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Nov 20, 2025 Nvidia's impressive earnings might just be the catalyst Bitcoin needs to break through critical support levels. The discussion dives into the complex interplay of money markets, TGA rollovers, and recent liquidity impacts on both stocks and Bitcoin. Nik reveals how growing correlations between Bitcoin and equities might shape the market's future. He also warns about rising volatility and its bearish implications, while analyzing the potential of AI-driven investment to bolster economic growth.
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TGA Drains Reserves And Tightens Liquidity
- Treasury General Account (TGA) buildups drain Fed reserves and can tighten inside liquidity quickly.
- That reserve drain can plausibly pressure repo funding and risk asset momentum like stocks and Bitcoin.
Liquidity Impulse May Explain Recent Risk Selloff
- Short-term liquidity seizures from TGA builds may have driven recent drawdowns in stocks and Bitcoin.
- The current TGA spend-down could reverse that pressure if reserves rise and repo calms.
Repo Stress Was Warning, Not Collapse
- Repo rates moving above the Fed corridor signaled funding stress but not a systemic crisis.
- The standing repo facility and rising reserves from TGA spending likely eased that stress.