An $88 billion drop in US bank reserves doesn't prove a Bitcoin liquidity squeeze
- —US bank reserves fell $88.236 billion in the week to Sept. 30
- —Weekly-average reserves rose $17.897 billion over the same period
- —Reverse repos rose $41.158 billion, with $30.08 billion from foreign official accounts
- —The Sept. 30 SOFR rate was 3.90%, within the range of the last five readings
Why it matters: Conflicting liquidity metrics make it hard to gauge the impact on Bitcoin, requiring analysis of funding prices rather than balance-sheet data alone.
Source: CryptoSlate