Gm, relatively large macro trade ongoing currently which is dragging BTC up with GOLD during emerging market trading hours (asia etc) downside volatility and momentum was limited yesterday despite continued exit of capital from US markets ~ Subtle change but to be monitored not chased imo Investors may actually be viewing BTC similarly to GOLD in the near term especially with USD weakness & degraded confidence in US assets Things to keep an eye on from here: Bond Yields (EU - US) GOLD - USD USDCHF (swiss franc) EM FX (emerging market currencies) Volatility remains to be the kicker of liquidity especially in a headline dominated market ~ Tariff mania