#CryptoMarketPullback ​1. The Real "Game Changer" This Week

​While the headlines are noisy, the structural shift under the hood is the true signal.
​The Warsh Factor: The nomination of Kevin Warsh to succeed Jerome Powell is the pivot point. The market is currently obsessed with his "AI-driven productivity" stance. If he signals a faster-than-expected transition to a "deregulation and growth" model, it could decouple crypto from the current macro-sludge.
​The Liquidity Drain: USDT’s 60-day market cap growth has turned negative for the first time since 2023. This is the "hidden" game changer—without fresh stablecoin fuel, any "dead cat bounce" will likely be sold into.
​2. Monitoring the "Rhetoric-Action Gap"
​You hit the nail on the head with the Fed. Here’s what to actually watch vs. what they're saying:
​The Rhetoric: "The economy is resilient; we are watching inflation."
​The Gap: The Treasury’s massive borrowing needs are clashing with the Fed's desire to stay restrictive. Watch the 2-year Treasury yields. If they continue to slide despite hawkish Fed talk, the market is calling their bluff on future rate cuts.