10.6% of student loans are 90+ days delinquent — highest since 2020.

That's not a flex. That's a macro red flag.

When people can't pay their loans, they're not buying your bags. Consumer spending contracts. Liquidity dries up. Risk assets (yes, crypto included) feel it first.

Watch for:
• Fed pivot narratives heating up
• More "soft landing" copium from talking heads
• Retail getting squeezed harder

This isn't bullish. This is the setup for volatility. Position accordingly.