BI Report 13 is Published Holding the Line: Bitcoin in a Transition Phase Link in the first comment. This edition offers a unified macro, on-chain, and liquidity view of where Bitcoin stands—and where it’s headed. We track weakening inflation, Trump’s policy pivot, and mounting signs of investor exhaustion as BTC tests critical support. Meanwhile, our new Monetary Mechanics section dives into the plumbing behind liquidity. With rate cuts likely ahead and fiscal stimulus on deck, this is a market in reset mode—poised for a decisive second-half breakout if key conditions align.