Top Goldman Macro Trader Buys Bitcoin, Says 'Key To This Market Is Not Trend, Not Valuation, & Not Liquidity'...

April marked the crisis phase, according to top Goldman Sachs macro trader Paolo Schiavone, we’ve now entered the Response Phase, with the Fed beginning to cut.

• A new Fed Chair announced in Sept 2025 and a de facto nine months of a ‘Shadow Fed’ change risk assets risk/ reward.

• Elephants are UK, AI, China, XBI, BRL, & BTC.