Global Macro Update: Liquidity Cycles Higher While Bitcoin Consolidates

In this Global Macro Update, Nik explains how the end of QT is reshaping liquidity across markets and supporting bitcoin’s foundation. He breaks down the rise in Treasury bill issuance, steady reserves, and the Fed’s smooth exit from reverse repo, all fueling stronger banking system liquidity. Nik also unpacks the breakdown in the DXY and its connection to U.S. industrial policy. On the bitcoin side, he covers six-figure consolidation, compressing volatility, rising funding rates, and stable on-chain signals like MVRV, framing the macro conditions behind bitcoin’s current strength.📚 Bitcoin Age is here, order yours today: https://a.co/d/5gau08H📊 The Bitcoin Layer is a bitcoin and global macroeconomic research firm. ▶️ Subscribe and turn on notifications for TBL on YouTube.📚 Subscribe to TBL’s research letter: https://thebitcoinlayer.com/subscribe🎧 Subscribe to The Bitcoin Layer on your favorite podcast platform.📱 Follow TBL on X: https://twitter.com/TheBitcoinLayer📩 Join the official TBL channel on Telegram: https://t.me/thebitcoinlayerofficial🧢 Use code TBLYT10 for 10% off all The Bitcoin Layer Merch at http://TheBitcoinLayer.com/merch⛓️ ₿lock Height 907190⚡ Contribute to The Bitcoin Layer via Lightning Network: [email protected] Bhatia's Twitter: https://twitter.com/timevalueofbtcCreative Director Matthew Ball's Twitter: https://twitter.com/matthewrballResearcher Demian Schatt's Twitter: https://x.com/demianschattLead Statistician Augustine Carrasco Twitter: https://x.com/AugustineCarrB The Bitcoin Layer and its guests do not provide investment advice.