The biggest macro change this week—funding pipelines turned red. BTC spot ETF saw its first weekly net outflow in three months, dropping from +$1.6B to -$80M in just one week. At the same time, stablecoins shrank by $4.9B. Price-wise, you wouldn’t notice it. BTC is still at $78,220, even up 1% from last week. But it’s now treading right on miners’ breakeven cost of $77,000, with exchange balances at a 7-year low—coins aren’t hitting sell orders, but the buy side has gone quiet too. My rule is simple and straightforward: If any of G1/G2/G4’s multipliers turn red → stop adding positions, stay on the sidelines. No moves this week. Next week, watching for 5/13 CPI and whether ETFs can turn positive again.