🐋 WHALE WATCH: Global liquidity is at ATHs. M2 supply from the Big 4 (US, China, Japan, EU) is vertical. Yet, BTC is lagging. Why? Uncertainty is a hell of a drug. When the world doesn't know where the next blowup is coming from, even "digital gold" gets treated like a risk asset. We’re in a classic divergence phase. The liquidity is there, but the "risk-on" button is jammed. History says the gap eventually closes—violently.(Whale Factor)