Understanding the Mechanism and Flow of Funds Reduction in the US Government Bank Account (TGA) with One Picture The price fluctuations between the US stock market and Bitcoin have never been a simple K-line game, but a concrete manifestation of the US dollar liquidity cycle, macroeconomic policy regulation, and geopolitical competition. The essence of TGA account reduction is that the Ministry of Finance releases liquidity to the market, directly affecting the supply of US dollars; The flow of funds will follow the transmission path of "safe assets → risk assets", which will in turn affect markets such as US bonds, US stocks, and cryptocurrencies; The policy cycle (such as Fed QT/QE) and geopolitical risk premium will form a key node in the long short game. Mastering these underlying variables is necessary to accurately predict the pace of capital rotation and gain strategic initiative in the cryptocurrency/US stock market. (Special thanks for the production of this picture) http://CONKS.PLUMBING ）