Brent crude breaks above 105$ while Saudi Arabia announces its lowest production since 1990. Direct consequence: Bitcoin drops 2.12% to 76 679$ and ETH follows with -1.15% to $2,441. The real signal doesn’t come from oil, but from rates: the 2-year US at 4.50% prices in a complete cycle of hikes, not just an adjustment. Druckenmiller is right to say that yields are still too low when asset prices are exploding everywhere. Are you counting on Friday’s CPI to reverse the trend, or is it already too late for end-of-quarter risk? #Bitcoin #Macro