this video was heralded by every financial expert on here for “wow, how great is it to have a Treasury Secretary who understands markets”
then markets pump immediately after the Greenland tariffs are scrapped

Bessent: Markets are going down because Japan's bond market just suffered a six-standard-deviation move in ten-year bonds over the past two days... This has nothign to do with Greenland.

unusual_whales

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Author | Jeff Park (Chief Information Officer, Bitwise)
Compiled by Odaily Odaily(@OdailyChina)
Translator | Dingdang (@XiaMiPP)
Editor's Note: On February 5th, the cryptocurrency market experienced another sharp drop, with over $2.6 billion liquidated in 24 hours. Bitcoin briefly plummeted to $60,000, but the market seems to lack a clear consensus on the causes of this decline. Jeff Park, CIO of Bitwise, offers a new analytical framework from the perspective of options and hedging mechanisms. [...]

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The degree of bootlicking we’ve seen from Bessent has been surprising. He knows and plays the game just like Bondi, Noem and the rest of them.

i expect this sort of thing from most cabinet secretaries (especially in this admin)
however, it’s just hilarious that everyone praised the explanation like he’s super smart and then boom, reversal off the tariff cancellation lol

Yeah it was a joke. He’s shown no independence and has to kiss the ring. What’s unique is the tech & crypto bro class actually expected different.