WLDOL spike = CCPs parking cash at Fed instead of Treasuries. Translation: the ‘risk-free’ market isn’t trusted. In the 70s the gold peg broke, in 2025 the bond peg is breaking. Release valve = Bitcoin.
Fed deposits over Treasuries or repo as their safest collateral destination.
That usually happens in stress events. See how they’re coming more frequently? You can have a mandate on jobs and inflation but the pin that pops the bubble is TRUST.
It’s a direct signal: the U.S. Treasury market is losing trust.
Here’s our Nixon 1970’s shock: In the 1970s, gold was the collateral that broke. In 2025, Treasuries are the collateral that’s breaking. $35T debt makes bonds the new gold peg.
You can’t even go long TLT lol
If treasuries aren’t trusted then gold can’t be either…
Bitcoin macro backdrop is the best I’ve ever seen in my 14 years and 25 of those trading professionally.
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