BI Report 26 Published: The Fed Just Caved, Got Any Bitcoin? The Fed has signaled its first rate cut of 2025, shifting focus from inflation to labor market weakness after significant job revisions and slowing GDP growth. While Powell’s pivot confirms cracks in the economy, Bitcoin remains fragile around the $116k top-buyer cost basis, with leverage-driven rebounds masking weak spot demand. Futures positioning highlights liquidation risk between $111k and $120k, and top buyers remain under pressure. Despite volatility, global liquidity flows and policy shifts continue to favor Bitcoin in the long term. (subscription link in bio)