Central bank liquidity is expanding across the board—the Fed and major central banks worldwide are in expansion mode, and this shift in momentum matters. When balance sheets grow, markets typically respond. Precious metals are already pricing in what's coming next.

Meanwhile, $BTC is navigating its own terrain. The asset is caught between two forces: the 4-year cycle dynamics and sustained whale selling pressure. These are headwinds that can't be ignored in the near term. The largest holders dumping their stacks adds another layer to the equation. It's a delicate moment for Bitcoin as macro liquidity rises but micro-level distribution intensifies.