Our Bitcoin risk model ticked green to a score at 35. "The price was higher 64% of the time after 3 months and 95% of the time after 1 year." Can't emphasize enough how big of a macro deal this is. The very 1st time QT ended in 2019, BTC made a similar move, and actually did fall lower into the risk of 20's (minus covid dip). QT has now ended again and the macro cycle bottom is forming...but this time with a confluence we've never seen: Fed policy shifts, crypto deregulation, and the most pro-crypto admin ever. The liquidity drain has stopped. Our models aren't designed to predict...but they're built to help macro investors evaluate real risk.