🎯 Reverse repos collapsed overnight to only $350 million left

📰 The Fed’s overnight RRP usage was cut from $11.5 billion to $350 million overnight. There’s only one counterparty left, and the large pool of parked cash has almost been drained

💬 Money-market fund money is moving toward short-term Treasuries and risk assets—liquidity looks loose. BTC futures at $84K is just moving sideways with low volume. Only once real inflows come back does it count; don’t rush to lever up

🏷️ #隔夜逆回购 #流动性 #货币基金 #短端利率 #funds situation