Nobody is paying attention to this. A new Fed Chair is about to take office. Let’s look back at what happened the last few times. January 2014: Yellen -> BTC dropped 83%; February 2018: Powell -> $BTC dropped 73%; May 2022: Powell -> $BTC dropped 61%. Now we’re heading into that kind of situation again. This is exactly where most people get trapped. What we should focus on next is whether capital flows and on-chain activity are rising in sync.