Wall Street is starting to panic: the U.S. may pour a whopping 1 trillion in short-term Treasury bills into the market, and borrowing costs are getting even more expensive. This is a roundabout way of draining liquidity—when the short-end interest rates spike, risk assets get hit first. Can BTC stay out of the mess? First, check how it reacts to the mood of U.S. Treasury yields. Don’t rush to bottom-fish—both the faucet and the pump are making noise.

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