4.28 It's time to liquidate all risk assets! 1. The Nasdaq has surged 20% in 28 days, which is rare in history—often signaling a major top or bottom. 2. The Buffett Indicator (total U.S. stock market value / GDP) has reached 227%, hitting a historic high. Buffett himself said that anything over 200% is playing with fire—a historic-level bubble. 3. $BTC spiked yesterday but then pulled back, with trading volume increasing and the bullish structure on the hourly chart breaking down. This rebound might already be over. 4. U.S. stocks are at historic peak levels, and $BTC is at the tail end of its rebound. Now is the perfect time to liquidate all risk assets.