The current situation can be understood like this: 1/ U.S. inflation expectations have soared to 5.2%, hitting a 3-year high. 2/ The Russell 2000 Index has entered a technical correction zone (meaning a drop of over 10% from its peak). 3/ U.S. gasoline prices have risen nearly 45% in just 4 months. 4/ The interest rate futures market is starting to price in a high-rate range for the next two years. 5/ Gold prices have dropped about $1,000 per ounce from their all-time high. 6/ Mortgage rates have risen by over 50 basis points, reaching their highest level since 2026. Overall, risk assets are under pressure. But Bitcoin has been stuck near $70,000 and hasn’t continued to drop. Keep the music playing, keep dancing. BTC