The CRYPTO LIQUIDITY Engine Just RESTARTED After 3 Years. For the first time in years, the Fed’s balance sheet has begun to expand. The drain stopped and liquidity is quietly being added again. At the same time: • Inflation is slipping below 2% (Truflation) • PMI is still weak, but that’s a lagging signal • Crypto remains undervalued and oversold This doesn’t mean crypto pumps tomorrow. Monetary policy works with a lag. But historically, this exact setup is what precedes major risk-asset cycles.(Dan Gambardello)