We keep waiting for the recession that never comes. Maybe that's the signal—we're already in the endgame.
No crash, no capitulation, just slow erosion while everyone's positioned for a collapse that won't play out like 2008.
The Fed's playbook changed. Liquidity stays loose enough to prevent full implosion, but tight enough to kill momentum. We're not getting the textbook recession—we're getting something worse: stagnation with inflation.
Markets don't crash when everyone's hedged for it. They melt up or sideways until positioning flips.
If you're waiting for sub-$20K BTC or a traditional recession signal to deploy capital, you might be waiting forever. This is the new normal—controlled descent, not free fall.