We wrote a piece a few months ago about the sensitivity of different assets to Global Liquidity changes based on historic regression analysis following 10% 3-month change in GL. Updated results (last 18m in brackets): Gold +16.5% (21.6%) BTC +89.2% (45.4%) Ethereum +115.9% (28.7%) SPX +12.7% (12.8%) Commodities +12.0% (+10.5%)